Hard money typically refers to a company that has it's own underwriting guidelines, rates (9% - 15%), costs, draw process ect.

Can you do side hustles, cut down costs to get rid of these debts?

If you do find that the costs to maintain the investment property are too substantial and you'd rather sell down the road, it would qualify for a 1031 exchange since the property was held for investment use.

I don’t have any horror stories but every time I go to run a check the cost has gone up.

.- Expected renovation costs $1MM.

House hacking with an FHA loan is a great way to minimize living costs while building equity, or you could invest in an out-of-state rental for steady cash flow.

If you paid $950k and only get $1M after selling costs, don’t bother with the 1031.

Given the latter costs, a corporation can be the best solution only if you buy multiple properties.

If you no longer have business operations in the old state, forming a new LLC in the new state and dissolving the old one may simplify compliance and tax obligations.Some states impose franchise taxes and annual fees that could make one option more cost-effective than the other.

And you can do it with little cash, 5% down conventional is better than 3.5% FHA.House hacking also gives you a chance to cut your teeth in all major skills: analyzing deals, buying process, financing, working with contractors, advertising for rent, background checks, property management.