AS they are lending their own money  either cash on hand or in their IRA.A Hard Money Lender is in the business of making loans and there is a distinct difference the HM will generally either have a Fund where they raised capital to loan to you.. 

For example:You add to your plan saving $20K a year toward retirement.That money is magically added every year without being deducted from your disposable income.There is no distinction between tax deductible contributions (IRA) and non-tax deductible (Roth).

It's a subtle terminology shift but made the distinction so much clearer for me when I was reading through posts like this providing info on how the guidance is implemented. 

There is no useful "average", and you are dealing with two distinct parts -- the rehab and the resale.

The valuation and market value of a multi family property differs from a single family and you want someone that understands the distinctions.

If you know those markets well you have a distinct advantage and don't need to invest out of state.As for a mentor...

For instance, in California the following ABC test is used to make the distinction: A) The hirer actually and contractually does not control or direct the person in the course of their work; B) The work performed is outside the hirer’s normal business; and C) The worker also normally and independently performs that work for others.

distinct.  

In SC, you can not be assessed more than a 15% increase YOY from the previous year's assessed value.Also, the only distinction in tax rates are 4% (owner occupied homes) and 6% (commercial rate).

We buy in two main areas and have two distinct agents we use - they will both tell you they know their area but not the other and we respect that.