I've been doing Private Money Lending/Partnering since 2021 which is very passive for example.

We have buildings with no parking lot and private entryways, so tenants are responsible.

Advertising an illegal, non-conforming basement for rent, whether publicly or privately, out right violates local laws. 

Used 0% cards and found private money to pay most of the cards.* Aiming to refinance with a rate-term dropping down to about $3,500/mo, so we could live for free.

Banks like to match short term assets with short term liabilities, and vice versa.I don't believe that DSCR loans are "expensive", but they do require a more thorough underwriting and higher amount of financial documentation other private and hard money loans.It generally helps to have a Fractional CFO or Loan Consultant (not a broker) that will work on your behalf to negotiate better DSCR terms and rates.

Is the lender a bank/credit union or hard/private money?

I was able to lock in private money to purchase the first of the two properties with plans of doing a BRRRR.

In many states, an LLC can keep your name off public records, which is great if you prefer to keep your ownership private or avoid being directly associated with the property.Having an LLC also makes you look more professional.

With no experience, you will have a tough time finding deals, finding private equity, and finding financing.

And thankfully, by the time I needed to execute on those options and actually complete the purchase of the leased properties, I had developed some private lender relationships that allowed me to complete those 3 transactions and several more thereafter.