I would love to draw on the experience and expertise of other private lenders, know what to look out for, where to start (thinking smaller loans), and be savvy about this fluctuating market and the potential for refinance not to go the way some investors anticipate.

Look at their pricing and how it fluctuates throughout the month5.

If you find a great deal that you can afford, you are insulated to some degree from the short term market fluctuations, and can afford to hold through a downturn to make it to the longterm, which looks beautiful for investors in SoCal IMHO ... and if there is no short term dip your ROI is even better by doing things this way ... heads you win big, tails you win small. 

Factor in a buffer for unexpected expenses, especially being remote.Risk Assessment: Understand the risks involved, including market fluctuations, unexpected renovation challenges, and the difficulty in managing a project remotely.Start Small: Consider starting with a smaller project to test the waters and understand the dynamics of long-distance flipping.Exit Strategies: Always have multiple exit strategies in case the flip doesn't go as planned.

Most of my out-of-town and out-of-state clients that focus in Lubbock recently expanded their market to include Amarillo and Midland/Odessa (though less so due to oil price fluctuations impacting long-term investing). 

Different types of real estate hurt in different market cycles and are also affected differently from disasters, pandemics, fluctuating rates, etc

I was told that membership tends to fluctuate with the economy and that they are busier now that things are improving.