If you have a solid ARV AND a great GC / team that you trust to do good work, consistently, and can stick to the timeline planned, even with hard money you will still make money at 75 or 80%, albeit a little less than at 70%. 

If you consistently analyze properties, recognizing a good deal will be much easier when it shows up.

The BRRRR strategy is doable for a newer investor, but it requires a lot of effort, consistency, and hands-on involvement—it's not exactly a passive way to invest.Whichever route you choose, if you're taking on the bulk of the work to analyze deals and select the best ones, it’s important to ensure your partnership reflects the time and energy you’re putting in.

We also have a firm policy, always enforce late fees and deliver a notice to pay or vacate on the 6th.

You said you are new to real estate investing but you have a background in residential real estate - what does the background consist of?

Just make sure you follow the landlord/ tenant laws in your area to a T, deliver all the notices when and how you’re supposed to etc.

After we drafted a bare-bones plan that considered their timeline, target rents, and capital reserves, they honed in on a medium-sized complex managed by a local group.. from what I’ve heard, these guys had impressed other out-of-state buyers before and delivered on their promises.

I hate to be the person whom delivers bad news, But out in New York a landlords lawsuit got dismissed/struck down by a New York Judge stating the Eviction  moratorium is legal.

It often takes living and breathing the industry around the clock for a few years before you start seeing consistent returns.

When you deliver on your promises and provide exceptional returns, investors naturally want to share the good news with others.