I began following the"creative investing" forum and it is unreal. ..literally, unreal how many people ask about private money,  i.e. hard money (for those of you who don't know hard money is financing from a private party other than a financial institution). 

I recently discovered my passion in volunteering and would really love to build a passive income early on so I can focus my time on doing that (putting in the time seems more gratifying then just sending a check).  

I discovered biggerpockets in 2011, started flipping houses, and recently even quit my job to focus on REI full time. 

There are many lending option but most standard banks only offer standard abc lending, you may have better luck seeking a different lending institution. 

IL requires 15 of the hours to be classroom or a webinar (interactive)I liked the Real Estate Institute https://www.instituteonline.com/ in Niles because they break the 15 hour interactive requirement into six 2.5 hour webinars and have them at various times of the day / night.  

Hi Everyone,Within the past year, I have discovered that i have a burning passion for real estate.

I discovered the immense potential of investing in real estate when through an internship with a small company that owned and operated section 8 housing apartment complexes across the country.Fast forward 2 years, and I have since graduated and moved to Kansas City, MO, the home to several things, including great food, the Chiefs, and a host of new investment opportunities.

I would like to gauge the interest of the BiggerPockets community on a new Single Family Rental (SFR) Investment fund idea.As we all know the Single Family Rental market is on the rise and can be very lucrative for both small and big investor alike.We've all seen the macroeconomic trends shifting towards a bigger and more stable renter society, and we all know that Wall Street now has anappetite for the SFRproduct with more than 4 public REITS focusing in the space.We createdwww.Property-Pool.com given the changes in the Securities laws, with the idea to give investors the opportunity to participate in the SFR space like an Institutional player but without the need of spending the time/cash to do so.We, ourselves, have been operating in the space for more than 6 years and now we are offering accredited investors the chance to join our funds with lower minimum investment than other private funds.Any feedback from investors who are always looking and comparing different options would be greatly appreciated.Thanks,Daniel Sultan

@Tyson Hartley & @Mitch H.Generally the income qualification for the loan would be decided by the lending institution.

If you wanted to refinance out immediately, you could, but the new lending institution would look at the total project cost as the value of the property for the first 6 months.If you wait 6 months and 1 day, the new lender will then be able to use a new appraisal, which would reflect the value of the improvements you have made to the property, in theory, adding more equity and value.