If you don’t have money set aside in case things go wrong, then I wouldn’t encourage you to use private money until you are at a place financially where you could come in and buy out the private investor if things went wrong.

You may miss good deals while waiting, and more importantly, you will miss on making connections and getting a name out there for you as an investor that focuses on X or Y niches.However, you can definitively do something to take advantage of this market (high valuations and easy access to money) and your situation (low LTV and hopefully good cash flowing assets and personal financials) without having to deplete your cash reserves paying down loans or reducing your cash flow by getting me loans. 

Hello BPers forgive me as im trying to do my best with the sellers financials provided.

Hello BPers forgive me as im trying to do my best with the sellers financials provided.

If BRRRR, then you should also talk to a conventional loan officer before even talking to HMLs to make sure that you can refinance out of the hard money with your current financials.

DTI and other financials will still be at play, I think, but best to get the lenders policy on those loans directly from them.

It doesn't help that the National Floodplain maps are outdated and universally acknowledged to be "politically influenced" (as certain neighborhoods in Houston demonstrated).Maybe it's a bit short-sighted but with plenty of solid places to invest (major cities with booming job markets), it makes pulling the trigger on Florida an unenthusiastic choice.

If the property has a good 3 year track record of financials,  low vacancy,  and not too much work it sounds like a good deal. 

I realize we already discussed our interest in discontinuing our lease, but we decided that it would be in our best interest financially if we stayed for the time being.

If you know you want to do real estate you might be better served with a business degree of some sort (finance) as you're going to get into lots of financial analysis to determine good deals vs. bad and more.