In RE we traditionally have done brrrr and STRs.  

Since you already have the cash, you can avoid that added cost.Lower Risk: By purchasing outright, you're minimizing your risk and giving yourself time to learn the process without the pressure of loan payments and short-term financing deadlines.Better Refinancing Terms: After you purchase and stabilize the property, you can refinance it with a traditional lender at a lower rate and pull cash out for your next investment.This approach keeps things simple and allows you to focus on learning without the complications of high-interest debt.Let me know if you need more advice!

For example, I had a client who converted a student property in a college town to a traditional rental, but the key was that the asset wasn’t performing well.

Let’s discuss the hidden costs and potential pitfalls of traditional financing methods that many investors overlook.

There's always the traditional sub-metering option if you are going in and doing some extensive work to the property as well but I've found that to be prohibitively expensive on my properties so far. 

When do you prefer using private money over traditional bank loans for real estate?

I don’t know about the Louisville market, but if you have to pay a bit more for the property than a traditional single family, it should be outweighed by the fact you will have a tenant paying hopefully well over half of the mortgage. 

Having been heavily in short term rentals for a while, I've found this to be about as much work up front, but we don't have to furnish, we don't have the management nightmares that STRs bring, we make as much or more cash flow, and we handle less maintenance than a traditional SFR.

Leveraging creative financing methods like hard money loans, private lending, or partnering with investors can also help you secure deals when traditional financing is delayed or limited.

Weigh out the Pro's and Con's between Traditional, Portfolio, and Non/QM like DSCR.