I do believe that 2023 will be a great year to get into some great properties at a discounted price as compared to the last few years. 

Most states as a private lender you do not need to get a license as you are not lending to owner occupied homes (that is the key never lend to owner occupied).The  reality is as a HML the return you get compared to investing passively in a private lending fund is not going to be very different.

Deductibles can be a problem too.Warranties are a high profit business for a reason, because the pay out is nothing compared to the pay in.

I'd compare prices of metal vs shingle to see which one actually cost more before picking which one to use.

When hiring contractors, the key difference compared to employees is the level of control.

The second question is, I was comparing two paths.

On another note qualified accounts can be great but you have a pension which really changes your dynamics compared to the majority of the population so you need to factor that too.   

The appraiser determines the value based on comparable properties (comps) in the area.

How do closing costs on a private money loan compare to a traditional conventional bank for a brrr?

Please try out some other Management company and compare.