The structure will depend on the down payment, quality of borrower, terms of note, your cash out of the note sale needs, and other factors. 

He was a realtor based in the Midwest (I think the greater Chicago area) and was talking about off vs. on market deals and the importance of choosing equity over cash flow. 

Here’s why Oklahoma might be a great market for you:Affordability: Properties in OKC and Tulsa are often under $200K and offer strong rent-to-price ratios.Landlord-Friendly: Simple tenant laws make managing rentals easier.Growing Economy: Job growth in energy, tech, and aerospace fuels rental demand.How to Evaluate Deals:Run the Numbers: Ensure positive cash flow, check cap rates (6–10%), and use tools like the BiggerPockets calculators.Find Deals: Network with local wholesalers or agents, and look for value-add opportunities in stable neighborhoods like Edmond (OKC) or Broken Arrow (Tulsa).Let me know if you’d like tips on analyzing properties or finding deals!

There's a monthly cash flow 101 game in Bloomington through MN REIA.

I suggest you buy fewer but better properties for better cash flow and appreciation. 

If the deal is right you can use hard/ private money to finance the home purchase and some or all of the repairs, then do a cash out refinance to pay off your hard/private money. 

They are usually looking at C or D properties that local agents tell them will “cash flow“ They usually don’t cash flow because of high maintenance and vacancy.

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.Here's a guide that teaches you how to analyze a property.https://www.biggerpockets.com/blog/rental-property-cash-flow...Finding deal that cash flow is the easy part.

Cash Flow Potential: Rental income from real estate held in an SDIRA flows directly back into the account, allowing you to reinvest and compound your wealth tax-advantaged.

We are not too strapped for cash, but it always seems better to have more in the bank than less.