Could these waits be mitigated by going the hard/private money route?

Where are the best markets to target in and/or near NJ in 2025?

@Rennell Goudeau Hi Rennell, send me a private message and we can connect.

Wouldn't it make more sense to raise money privately?

I would take out a private loan on the paid off property to get the other one squared away

I am leaning on local first for my next investment, but not ruling out an out-of-market opportunity. 

Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?

I would encourage you to learn the market you plan to invest in now and to continue to learn about the different methods of investing.

If you don't have the extra cash, can you get creative with a private lender or partner stacked on bank debt? 

Many opt for other investing methods in their SDIRA like private lending, crypto, private equity...anything except collectibles and life insurance.Note that a Solo 401k is exempt from UBIT on leveraged real estate so if you have self employment activity and no full time employees save for you and your spouse you should consider the Solo K as an option.