Here are some practical tips and insights based on my experience managing a real estate fund and working in this field.First, setting realistic expectations.

I’ve done a couple of fix-and-flip projects in the past using a hard money lender (HML), which has its pros and cons.I’m currently looking at a couple more properties and trying to decide if I should go with an HML again or explore other financing options.

Commercial financing is 100% different (and easier lol)! 

How did you finance this deal?

Either way, $600 in cash flow should actually help your personal DTI if you go for conventional financing on a primary again. 

How you finance the buy is a separate thing.

Class D is mostly rentals (another tip to look at owner occupied stats and/or if the neighborhood is identified for revitalization), the tenants are outside smoking, they are talking to neighbors and solicitors, it is a completely different vibe that is pretty noticeable just driving through.

I'm hoping to connect with some mortgage brokers in Puerto Rico who may be able to finance an investment property in Vieques. 

You can then get financing either through refinancing the entire debt stack or getting a second mortgage with the same bank that did the first mortgage.  

Losing 85% on a single REIT would’ve been devastating if you were all-in, but spreading out across 10 investments turned the overall outcome positive because of the winners.Here’s a few extra key tips to avoid big losses in passive investments:Focus on cash flow: Invest in assets that generate consistent income.