I am eyeing up a property I want to buy that costs much more than usual so my plan was to use a hard money loan to purchase, and rehab it with my own money, then sell. 

@Heather Bailey they will ask you what style of renting you plan to do.  

It has a full studio casita out back that will be an LTR.I plan on buying 3 or 4 investment properties this year after I learn more on the co-living marketing and rent collection side of things.

If you are accredited, the best thing to do would be to invest 50k into a syndication and soak up all the knowledge of how it works from an experienced operator before you make the decision whether it's your plan.

For me to build I would want to see recent comps of sales for the finished project you are planning. 

By then I expect to have a clear plan so I can move into action.

Hopefully, the tenant takes the hint after today’s conversation, but if not, you’ve got a solid plan.

Currently working with a mentor, and I plan to give him a chance before I jump to something else.

I plan on using that equity to get myself into real estate investing.

When you invest, it is a good idea to have a 5-10 year hold horizon that you are planning for, not just looking at the immediate situation in an area.