The property will be strictly for investment purposes, not a primary residence.I’ve been looking into two potential financing options:Hard Money Lenders (HML) – I’m drawn to this option for its speed in closing, but I know the rates can be higher.DSCR Loans – This seems like a great option for long-term rentals, but I’m unsure if it’s the right fit for my auction property since it might need some rehabbing.I’m also considering purchasing through a land trust or an LLC to add a layer of protection and privacy.So, my questions are:What’s the best way to approach financing for auction properties?

Also, I’m pretty new to this but I’m assuming you’d have to have an LLC in place to accept hard money or money from private lenders? 

I would focus on saving enough money that if I had a deal go bad, then that money I saved was there to cover it. 

I took no money from the cash flow (when there was any) and I never made a late payment to the bank.This fall, nearly 12 years after the bank gave me that house, and over 15 years after I knocked on that door - after evictions, vacancies, insurance claims, and never taking a dime out of it - I sold that house and placed all of the proceeds in a 1031 exchange.

I would still need to subscribe to a streaming service for cable tv, so cost savings wouldnt be much (or a wash), but otherwise it seems like it might be a viable alternative?

It will be a little trying for 6 units to use - they're slower because they do both washing & drying - but that would be way better than expecting tenants to drag wet laundry around.

I've never had to use hard money before, so I am not sure what type of conditions are reasonable.

We are in Tampa so a similar market.We provide a starter set which is clearly communicated to guests (thought some people do not like it and clearly do not read which you cannot help) generally consisting of:- 2 Laundry Pods- 2 Dishwasher pods- 2 Rolls of Toilet Paper per bathroom- 2 Paper Towel Rolls- 2 Trashbags- All soaps are refillable including dish soap, hand soap, and body washes/shampoos.They are expected to get their own should they run out of anything. 

Liquidity is important if this is money you plan to put to work in the near term. 

Did you save enough money for a new purchase?