I've borrowed a lot privately over the years, from employees, relatives, my agent, friends of other investors, etc.My last HML (for myself) was at 2.5% and 8.25%.

Self directing is simply a different business model that allows for a broader choice of investments.  

Why sink your money into rehab if you can borrow, of course restrictions apply.

As I grow I search for things I don't know and others do: how to find an accomodator for a1031 exchange, do I need a whole new roof or just repair the roof I have, how does this decision change my tax situation, I've got my first 4 loans and find out the 5th is more difficult so how do I carry on, do I snowball my rents and pay down my mortgages or keep borrowing, now in single families does it pay to do multifamily properties...I am searching for something each and every day. 

My wife and I borrowed money from our folks for the down payment and bought a 4 bedroom fixer when we were in College.  

The area it is in has no other choice than increase in value, and any monies I will invest will get a decent return now in today's market.  

For example, they won't pay the HOA, they won't pay the seller/borrower's tax liens, they won't allow any funds to go to a jr. lien holder or they put a cap on the amount, they won't allow the seller to benefit from the sale, etc.  

You can borrow against your 401k.  

My choice is to be happy, healthy and have enough $ to do anything I want when I want to.

Saying an OO mortgage implies secondary market loans and you won't have a co-signer, you can have a co-borrower.