Typically if you find a good realtor who can property manage, they will have an equally good network of people in the area for the BRRR.If you are not comfortable with that as a starting investor, buying something more turn-key is a great way to start too! 

Is it because private loans are typically short-term?

For example, we enjoy frequenting South Coast Plaza in Costa Mesa and Century City Mall.

If you look at the price chart between east palo alto and vallejo for example and measure the lowest to highest, they're actually comparable.

For example if I want to utilize the BRRRR strategy I will eventually need to pull out cash to reinvest.

One example is that short-term rentals are more of a hospitality business then a property investment.I'm guessing there is more to your comment, but just investing in markets because they are "decently priced," may not get you closer to where you want to go. 2 of my first investment properties were very "decently priced," and had great annual % returns, only to cost me money to sell 18 years after purchasing them (no appreciation on values of rents and required fix-up to sell,, etc).  ....Although, they contributed to my education, they did not directly assist in moving me toward my goals.There are many previous posts in BP (do a search) with good blueprints of how to get clear on your goals.

Most borrowers typically migrate from traditional to DSCR financing once encountering roadblocks with DTI and concentration limits with conventional financing.

For example, I mention that every adult must pay a $30 application fee, pass my credit/criminal background, make a combined income of 3x the rent, and whether or not the property accepts pets.

For example investing in a real estate syndication as a limited partner.

Hard money is typically used for investment only.