Working with a private lender can indeed come with challenges, particularly regarding qualifications and funding structures.For your cosigner, they typically will need to be a member of your LLC and the private lender will want them to hold 51% - depending on lender of course.Compensating your cosigner fairly is based on what both parties believe is fair.

Although that would be looked down upon by a lender as well because of the inherent risk of lending to someone who has too much on their plate. 

I have a lot of personal experience with BRRRR—both from building my own rental portfolio here in Memphis, TN and from helping both local and out-of-state investors successfully scale their portfolios using this strategy.One of the biggest advantages I’ve been able to offer my clients is structuring deals with hard money lenders in a way that allows them to acquire properties with less than $10,000 out of pocket in most cases which results them in massive cash on cash returns!

you would need to make monthly payments to the seller during the rehab, just like to any other lender, and then if it were a rental, you would want the rent to cover the payments plus all other expenses.you'd also need to figure out how to pay for the rehab - either out of pocket, or finance it somehow. 

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

There are always private money lenders there and people who will partner up on a deal.

If you're looking for ways to accelerate, consider these options:Seller Financing – Some sellers may finance a portion of the purchase price, reducing your need for a large down payment.DSCR Loans – These loans focus on property cash flow rather than personal income, often requiring only 15% down.Private Money Lenders – If you can find a PML willing to work with you, you may be able to put less down.Partnerships – If you’re open to splitting profits, you could bring in a partner who funds the down payment.Since you’re okay with the slower path, just keep stacking cash, but these might be worth exploring to move faster!

I'm happy to connect you with the lenders our clients work with for this strategy in the Austin area.

Due to the popularity and scarcity of these properties in Nashville, it would be difficult to find a property meeting the STR requirements given a proposed purchase price of ~$300-350k.Additionally, your situation is a bit unique as it sounds like you may be living away from your primary residence more often than not, and as such, I also recommend you confirm with a lender whether this situation would qualify for this type of (primary residence) loan.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?