If you go with Hard/Private money to start, you are still going to need some form of traditional financing when the project is done. 

From tax benefits, to leaning on GP's that you can build trust in, passive investing through real estate can certainly outperform many of the more traditional ways to invest.Thanks again Justin!

I've heard a few strategies that even those houses can be profitable, just not in traditional strategies.  

I'm house hacking so not exactly the traditional BRRR deal.

You also have portfolio/private lenders, seller-financing and other non-traditional methods once you reach that cap. 

Also included should be a contingency to give me a 14 day inspection period to give me time to find a cash buyer.If you do not have both of these in the contract and you do not find a buyer you have a good chance of losing your deposit.Here is a sample email that I sent to the agent when submitting my offer: Hello Frank After going through the numbers, I've determined the following offer.Offer Name: MD Investments LLC And/Or AssignAddress: 123 Any Street Any City, Any State 12345Offer Amount: $115, 500Deposit: $500Contingency: This offer is subject to a 14 day home inspection of a contractor of the buyers choice which must meet the buyer’s approval.Closing Agent: TBDClosing Date: Closing to be 30 days or sooner if agreeable to all parties from the mutually executed contract.All cash offer.Hope this helped

Renting an illegal unit does not offer you the protections a traditional rental would.

Other choice is to just borrow from this private lender and not split the profits.

Raleigh area has much more high tech companies in the RTP and Apple is coming in the next few years, seems to be a safer choice.  

Diversified work industries is important in the area of choice, neighborhood safety (no D or C probably), among other things.