So I had an idea to get a loan from a Private lender for 400K (just under the asking price of the home) this house is already appraising for over the asking price but need some TLC.

I would start with all cash and then seek private lending money. 

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

If you are seeking an actual private lender or direct HML  consider starting your search here: https://aaplonline.comThank you so much.

So you would likely need to go business purpose like private money or DSCR financing.

@Keegan Darby  To truly compare private lending to holding you'll want to pin down your ROI a bit more.

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

The promissory note and personal guaranty are private documents that don't get recorded.

Quote from @Rob Williams: Hi everyone,I’m looking for advice on effective ways to connect with private investors locally interested in senior living land development.

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.