Good morning Carl, @David Krulac is right on the money. 

Hard money loans offer fast approval and don't risk personal assets but come with high-interest rates and fees, which can be tax-deductible as carrying costs.

I think you run a real risk of your second rental eating up the profits you're enjoying on the first one.

I tried it in an apartment complex and it was an absolute dumpster fire and lost a lot of money.

I KNOW I am not up to Accredited.It seems to me to be "backwards" thinking that there is LESS risk to a 'novice' in a FUND since the risk is spread out over many Notes and professionally managed, whereas an Individual Note seems like it would carry WAY more risk, especially picking the 'right one' for your investing goals, budget, etc...? 

Right now, the best offers around me are for some 1.3-4 million, that only generated around 100k per year gross, so there would be a high chance of not cash flowing, and paying money, especially with a commercial loan (these buildings have more than 4 units).I was thinking that although the rental itself does not generate money, I would be able to deduct the mortgage interest, and depreciation from my personal w2 income and would be net positive.

Look at all the experienced syndicators that have lost money over the last 2 years.  

Start small with strategies like house hacking, leveraging your hands-on skills for value-add properties, and building a strong team or network to reduce risks.

By donating the owner will have the money they want.

It’s a strategy that allows investors to acquire rental properties with little to no money out of pocket while building equity along the way.If you're considering using the BRRRR method to grow your real estate portfolio, here's everything you need to know about how it works, its benefits, and potential risks.What is the BRRRR Strategy?