Didn't have a choice but to go Hard Money on this deal because the only Private Money Lender I have found didn't want to do a deal out of the state of Florida (property is back in Arkansas).So far the numbers are looking pretty good and I hope everything goes well with it.

The only way you're really going to know if you fully qualify with keeping your current primary (to turn into a rental) is to talk to a lender or mortgage broker and see what's possible. 

Others may outsource services to private companies, such as maintenance or administrative tasks, to leverage specialized expertise or cost efficiencies.

This is EXACLTY what Clayton Morris did to his clients dumped them into low end properties and millions were lost.. this is something in my personal opinion that will never work and investors are going to sign on to these high interest rate private mortgages and find themselves in trouble. thing of it logically if you have the cheapest homes basically in the entire US what kind of renters are they going to attract..  

I've dabbled in traditional real estate since 2009 and investor RE loan products as well as conduct due diligence for private lenders leveraging their cash.

Arranging financing, forecasting cash flow (it's not "rent minus the mortgage"), managing contractors, managing tenants, managing property managers, dealing with permits and city inspectors - it's a lot more than the average person realizes.

I created a VA LLC with my daughter as the owner (for my anonymity and asset protection), and was planning to hold private mortgages (using another LLC I created), to strip equity and for anonymity.  

Any advice on how to avoid a scam in private lending is welcome! 

I would recommend working with a lender or mortgage broker who has an NMLS license.

Feel free to private message me with any more specific questions. - Chris Kersey