Quote from @Frank Pyle: My client recently purchased a home with a hard money loan and have successfully rehabbed it for use as an Airbnb rental.

@Donald Hatter We send the information to a collection agency who attempts to recover the money; after they make several attempts they place it on their credit report. 

But tuned out to be a pretty nice profit deal for us about 650 to 700k net in less than a year.the lady got her home back free and clear and I told her do not Borrow against it ever again her kids had forced her into last time and of course took the money themselves.

Sale Price$171,000 - $55,000 (Rehab) - $13,680 (8% fees) - $40,000 (profit) = $62,320 MAOFrom talking to other investors and doing research, typically a Novation allow more money to the seller, correct? 

If you like the home, area etc, you could refi and pull out the same amount of money.

Perhaps you could consider hard money in addition to private money?

Where you really make your money in FL is in the appreciation.

I can probably teach it, but I won't be spending that kind of money for the platform and I doubt people who wants to learn are willing to pay for the platform and tutoring fees. 

As for being a hard money lender.

New York is hard to evict people and you'll end up spending more time and money doing it yourself.