In reality there's a spectrum of risk available in the stock market and syndications and every other type of investment.

Almost everything is on a spectrum, it’s not a binary choice. 

Obviously, there is a spectrum, but those are pretty representative groups. 

Your wife's perspective is no inaccurate, it seems you are both looking at things from different ends of the spectrum which is great!

Great guys to understand the full spectrum of real estate from buying, selling, investing, holding, brrr, ect.

In this case, a room conversion shouldn't be a huge project, so I would expect a permit to be on the lower end of the cost spectrum (if you need one at all).

Are you looking to just serve Colorado / full spectrum (including owner-occ, house hack, etc.)?

On the other end of the spectrum, when there's something I don't know, I am not ashamed to ask a man for input and gain the benefit of his experience and talent.

Further, there are a wide spectrum of lenders that can range from very good to very bad among lenders that brand themselves as "Private Money" "Hard Money" or "Private Lenders"Your best bet is likely to follow reviews and like you've been doing now with partnerships that you trust, but your instinct is right to have relationships with multiple lenders and options. 

@David C.if you don't want to own individual properties, then yes, syndications are one option along the spectrum of passive.i am not 'recommending' them, because they are not something i have much knowledge of.