Love that you have been in the RE game for so long!

The BRRRR method and creative financing are game-changers!

The current game is flipping which is a job (stop flipping and you stop making money) or more patience than I have.  

The man selling said he knows he will lose money on the deal as the property already appraised for $560,000 but would love to get a young investor like myself into the game since his son did not end up sticking with it.

Start with Strategy by Dave Meyerhttps://a.co/d/8u2CtKyI read this book in Sept and it seriously changed the game for me.

But my understanding is that it's a numbers game.

And I generally require a sponsor that has full real estate cycle experience with little to no money lost, low leverage, high skin in the game and reasonable fees and promotes.However, other investors will look at these deals as bad/too boring for them because they are more aggressive and not concerned about the risks of default, refinance, interest rates changing etc.

It's good to hear that you want to play the long-term hold game as that is how you'll ultimately build equity.  

U can have zero experience and just need a few bucks and a  good credit score and you can buy a home to live in or a rental.. but not development deals.. different ball game

A prominent MLO in the northeast was recently charged and stripped of his license for playing this game with his borrowers.Also, everything is reviewed by underwriting.