It's an asset based loan so most all the requirements will be dependent on the rent covering the debt so if you have cash but no stream of income it'll be the way to go.

Make a decision based on the numbers.

My wife and I are in based in San Jose but we have lots of connections in Utah.

While it is under 100K, and loans under 100K are often more expensive because they are harder to get and because it costs the same to underwrite a 100K loan as it does a 300K or a 1M loan.... and certain costs are fixed and not based on the loan size (think things like processing and document fees and underwriting costs...).

So, join some of those Indy based real estate groups on Facebook.  

Lots of great advice like knowing what criteria you can base tenancy on and what you cannot.

It was a base hit.

In my experience “hard” money is used to describe an extreme section of what’s referred to as asset based lending.  

It may have taken me 5 months to close my first deal - but I wound up closing 6 in the next two months & I knew at the end of the school year it was time to take the jump - to become a realtor full time.I'll spare you guys the rest of the story but it's been incredible... just some of the feats I've accomplished are:1.

I can be pretty level headed when solving someone else's problems that have zero financial and emotional investment from me.And it's nice to talk with someone who is objective in this situation rather than make choices based on my emotion.