Question: Should I collateralize the loan (if using private or hard money), or rely on roll-over loans (to maximize the lower points and 3-4% rate)?

Using a HELOC or home equity loan on your personal home could be a good option, especially if you can secure a low interest rate and manageable terms.

Renter's Insurance is a cheap date for the tenant; it protects their security deposit and assets. 

Quote from @Brandon Blackmon: @Bruce Woodruff 100% the answer I'm looking.... a solid GC, has a 20-25% markup to I would for sure know going into this that these are private companies and they can set their own fees. 

It’s all about securing the right agreements and understanding the rules. 

I suggest you enter private money goldmine in search botton at top right of the screen and read the previous posts....here is one that gives good perspective as well as a link to legitimate private lenders.http://www.biggerpockets.com/forums/92/topics/1488...

Also, I would love to hear from you privately about how things are going for you.

If a single-family owner-occupied property is worth $400,000 - I wouldn't invest more than $280,000 (70%) in a note secured by the property.ITV takes priority over desired yield - so even if the note discounts to $350,000 based on desired yield, the investor still won't go beyond their maximum ITV. 

There are risky, but high return options like QQQ which grew 27% over the last year or on the other side / safe end, there are super secure short term US government bonds like SGOV which pays out about 4.5% in dividends. 

I just secured a deal in Solterra which seems to have everything in order regarding rules.