Now investors, especially the newbies, are chasing returns by going after higher risk investments - many NOT really understanding the true risks.Many more investors will be losing money and choosing to liquidate real estate - which will be buying opportunities for the better prepared investors.

Sometimes its better to lose less now than more in the future.

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? 

When that happens you will only lose part of your cash flow rather than all of it if you have multiple DSTS vs one larger one.

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. 

An example of this would be mixing your personal money and LLC money in the same bank account.3.

I detail here how my first flip essentially bankrupted me which resulted in this house losing money as well.It’s easy to blame others for all that went wrong.

Any good resources for learning about hard money loans?

New York is hard to evict people and you'll end up spending more time and money doing it yourself.

By using the BRRRR strategy, you only need to put down money once.