Hi,What advice could you give to someone starting  a Private  Money Lender business? 

PM gave him 60 days notice to vacate few weeks back.

Tenanted properties are extremely challenging to sell and the recent change in notice period has made that worse in BC.You are in a tough spot either way, only you know your financial situation and your numbers.

We didn't get much traction with Roomster and Kopa as by-the-room platforms, and we are a smaller market without a Padsplit presence.There are a lot of work crews passing through our neck of the woods, so the private rooms are appreciated as a bonus. 

Way I differentiate is private money may be a friend or family member vs. hard money which is a company or someone else.

Hard money loans or private lenders can also help you move quickly, but come with higher interest rates that you'd refinance later on.

In Columbus, C Class properties are typically the 1% Rule and can cashflow more but it's highly recommended to not try and self manage them - use a property manager that is well versed in getting those units filled or kept on tract, post notice if necessary to prep for an eviction.

My calculated cap rate is 4.73%.I just finished a full foundation up remodel on our primary residence, we owe $1.22m at 4.25% on a 30 year on the mortgage and have a private construction loan with a balance of 490k at 5% on a 20 year.  

I did a little bit of research and notice that the AirBNB market is saturated so it's good to hear your take on it as well.

Have you driven past the unit and noticed anyone living there.