To break it down simply, both have advantages and disadvantages for a borrower.Hard Money : quick, least amount of paperwork/underwriting, VERY local lender/individual who will know the market best Private Money : still very fast, some more in depth guidelines on the financing, CHEAPER than Hard $, usually an actual lending institution capable of multiple products/solutions.Do your research, check the reputable lenders endorsed by this site also! 

OUTSIDE FACTORS However there are multiple other factors involved here:- The labor/manpower availability of the GC- Fluctuating material costs ( GCs typically have contracts only valid for limited times due to this )- Their schedule and/or backlog of work- Level of finishes and depth of scope

Skipping due diligence and buying property sight unseenTo avoid one of the biggest mistakes that out of state rental property investors make, conduct in-depth research online and work with a local investor-savvy real estate agent and property management company to assist with your due diligence and property inspection.2.

I am a LL with a large portfolio of Detroit SFR rentals.It is not a Civil issue anymore it becomes Criminal intent on your part.I can go in-depth on the various scenarios (with experiences picked up over the last 7 years investing on Detroit) but would not wish to as it is a different topic on it's own right.Hence, Sorry but just take this experience on the chin and go through this eviction like a Landlord would do.For the next tenant, follow a regimented Screening process: 1) Check the 36th District court for past evictions & money jugements (LT issue and GC issues), if it is under 3 years avoid the drama and move to the next applicant.2) Previous Landlord verification - call and speak to them (run the Landlords name if you have MLS access against the ownership records)3) Employment History and Stability - 3 times rental income atleast. 4 times if it is under household share.4) Credit Score - a Good indicator but take it subjectively as a Low Credit score is not an automatic refusal.

After some more in-depth research, I do realize that you are right.

Try SouthStar Bank if you need a local bank to take a more in depth look.

Maybe I was working with the wrong people but as soon as I started buying for myself it got a lot easier.Being an agent does give your in depth local market knowledge ..of houses.

The irony of Dobb Frank is it turned into a fairly household name but it did so under a very simplistic lack of in-depth understanding of what it is.  

Start with the podcast and then the resources section: you will be amased by the volume and depth of the contents you will find............all the best!

REI is still good; it just takes more cash than many folks thought.And all of us who have been banging the drum for years on reserves and defenses in depth are suddenly prophets gifted with second sight.