When calculating your return, bear in mind you'll most likely have to pay 100% in cash to make it work.

I would think transient room mates on renewable short leases would be much safer than bearing the brunt of San Francisco's LTR tenant laws.

So, in reality every month your moving close and closer to sucking out months/years of profits via items aging out, cap-x coming to bear. 

Yup, this is exactly the reason that I wouldnt allow delegated correspondent - it's too easy to get greedy and gloss over red flags when you get paid to package and sell risk to your partners instead of bearing it yourself.

My wife and I purchased our second home and what we believed to be are dream home at the end of 2023.

Quote from @Bear Geiger: At Little Bear CreekProperties, we specialize in developing large tracts of land into individuallots for home builders in the Raleigh, NC area.

In that case you do bear the responsibility when said supplier turns out to be a fraud dont you think?

(most hard money loans require 10-15% down depending on the split between purchase price and rehab). but that is both (1) risky and (2) expensive, as you're paying interest every month on 100% of the borrowed funds. private money is fine, you're just bearing a lot of risk and also involving the relationship in your very first deal. 

That will be a determining factor for where it makes sense for you to purchase.Regarding waiting - bear in mind a lot of people were predicting rates in 2024 would be in 5% range or low 6s, which didn't turn out to be the case.

If cleared brush, than no root systems to hold soils.