Typically people making the designation a private lender is someone you know and have a relationship with and will privately lend you the money.

@Mike Robb you would think with the money they charge people for very little benefit they could create an app.

There is demand for it and demand in this area for affordable housing, in a tourist area where plenty of people have vacant, second/third homes for seasonal fishing and hunting.

I will not be at the NY Real Estate Investors Expo but I'm sure that's a great one for meeting more people in your region!

@Paul BushEr all heat lots of things - recommend doing some researching to find the case and get an understanding as that does not seem correct as you could call people to buy their underwear….

He does a lot of webinars, zooms where you can ask questions and has people to do Trusts, etc, entity formation.

I also have no interest in being in the car wash business, or the laundry business, or the AirBnB business, things like that which seem to appeal to a good number of people, but not me.I like to KISS, and just focus on market rate rentals, 12 to 18 month leases.

Transcribing transactions from bank statements, posting transactions to the correct accounts, and then manually creating an income statement, statement of owner's equity and a balance sheet is a fairly time consuming process and I have not been able to keep up with the book keeping between my regular work responsibilities.What accounting software do people recommend? 

With the run up on RE prices and boom of STRs over last 5ish years people have been led to believe it is easy and leveraging has minimal risk.

People who have maturities coming up shortly and do not have the 20-25% equity to refinance or if they do in one project they are using one deal to support others. you have to treat each deal separetely and make sure they each support themselves long term.