It seems competitive but then again how many people stay in the game?

So we shall stay patient and persistent and usually that produces great results

I explain why more here if you're interested: https://www.biggerpockets.com/renewsblog/2016/01/26/vast-majority-investors-stay-fard-class-properties/

Perhaps I'm missing something with how hard money lending works (i've been reading about it but it still seems confusing and not viable to me but I could easily be wrong...)ya the other option is I stay in this house and do a cash out refinance or HELOC but, again, it just doesn't bring enough cash in to really do much with.  

Likely they will stay below 5% for the next 12 months and depending on the Presidential election and who gets elected, they could stay below 5% for considerably longer.Eventually in 4-8 years, they will be back to 6-6.5% which is where the financial system hums right along.  

Please message me with whatever info you're comfortable sending.

Definitely stay active in the forums and look into several different real estate clubs that you can attend.

We've done 11 flips together and he's done 45 in the last three years, so we are comfortable and I think the terms are fine.

Conversely, we had our beach house at Ocean Park managed for 2 night minimum stays for 8 years by a local vacation rental manager.

If you are first time investors, you do have to get comfortable with the idea that you will have to trust someone else with a large asset: managing, renting etc.