I don’t know who this guy is but based on this thread, he sounds like a troll.Point I want to make is that there is a DISTINCT difference between a private money lender and a hard money lender.

The de minimis safe harbor rules (deducting tangible property costing $2,500 or less, $5,000 or less with an applicable financial statement) don't make a distinction between units being currently rented or under renovation as far as I know.

You know full well there is a distinct difference between doubling cash flow and buying cash flow.

Note that "bird dog"-ing is illegal in some states, including Illinois.Wholesaling of real estate is considered illegal by the courts in some states where the distinction between marketing a contract and marketing a property has been blurred by the wholesaler's marketing tactics.

That is a somewhat important distinction from what most people consider a "conventional" loan because it will be at less favorable rate and terms than a 1st.

I have a great agent for you to work with here in SD who is focused on the 2-4 unit segment.

But homestead/non-homestead is an important distinction, also if agricultural use or not....all factoring into a homeowner's right of redemption.

Consider working with a list broker who can suggest segments like Seniors with 20+ year Ownership.

You might split your list in a couple segments - perhaps Absentee with high equity, Seniors with 15 year ownership and Homeowners with Low Financial Stability Scores.

If you have investors, I’d suggest starting a separate and distinct QB file for each note.