I love the idea of financing land flipping since so few do it and I think it's the lowest bar to entry for investors who can hustle and are good with systems and calling (gold mine).

I bought an awesome cocktail arcade table for my wife six years ago.

That's probably why BP bought Left Field Investing to create PassivePockets.  

We have bought loans like this from existing lender as well as refinanced borrowers into a new IO loan. 

There is still a risk: You do not have the right outprice and lose money, your deal goes south due to unfound things when you bought it, then the rehab phase brings them up, and you spend more, and the market changes, which is something that can happen on a moment's notice.

A property qualifies as Homestead for this exemption if an eligible owner files a Principal Residence Exemption (PRE): https://www.michigan.gov/taxes/0,4676,7-238-43535_43539-210891--,00.html#:~:text=Section%20211.7cc%20and%20211.7,purposes%20up%20to%2018%20mills.Many investors have gotten an ugly surprise when they bought a property that was a primary residence of the seller for the last 20 years.

Recently bought a rental that I am living in and will start to renting it out early next year.

I bought $4m that month.  

I bought 1 House out right, I am refinancing for 100k. had 1 renter paying 1000. using the refinance to purchase the second property, and putting renter for 1400. it will also need 25k in repairs.

In 2023 I bought one house, invested in one syndication, and focused on fixing up existing properties.