My hope was with a buy & hold strategy, I could refinance within 1-2 years.

some good examples here already but would add minimum loan size / property value I see a lot, unfortunately have to turn away a lot of people (esp. those just starting out) because their budget is too low and the property doesn't have enough value juice to make it worth it as a lender (plus more risky)

Should I just sell the house in PA and buy something affordable in North Carolina?

In our experience, buyers always add 2-3x the actual removal cost.I love wholetailing because we get the speed of wholesaling and the margin of flipping by doing a little bit of both.You just need to be able to get the liquidity to support the transaction, which we do through private lending.We always use other people's money to make our own money.

I am interested in buying a property near NYC for STR.

Great job done.You buy $100k property with $20k down.

Normally, people open a S Corp instead of an LLC so that they can pull a salary from the S Corp and save on taxes.

The issues we typically see with people having difficulty are:1.

I even was able to attract better contractors once the projects were in nicer neighborhoods - all thanks to other people's money.I guess I never looked at the cost of the money (fees/interest) as a negative, since I realized that in order to experience growth, capital would be necessary.

A lot of people like to tout that private lending is this risk free business alternative to owning your own investment properties.