I am on a similar journey...

Getting advice on BP helped me overcome many of the hurdles as a new investor while I started BRRRing.

I am very familiar with hard money:1) you will mostly find a 10-13% interest rate range in the market depending on the combination of previous experience with rehabs and credit score.

From what I’ve observed, many of the most successful investors tend to focus on markets near where they’re based or in areas they’re familiar with.

The potential issues can be a large list depending on the jurisdiction.Good luck

I realized that there are very few lenders willing to lend on a property under $100K. 

That means your entire principal keeps on growing.

For example, there were a few recent duplexes for sale around $350K-399K, with 20% down, and the potential to get $1,200–$1,300/month in rents on both sides they would have the ability to cash flow.

I myself am in a similar position looking to acquire a secondary home in the Banner Elk and would plan on using as a STR and would love any input on your findings!!

Pre-pandemic we were averaging closer to 2%+ on most rentals, meaning if you were all in for $100K, the rents were closer to $2K.