The market has seen a lot of national hedge fund investors that are buying up markets which will decrease available inventory and increase property value. 

To answer your question its not only difficult to fund the right project but more important is finding a good borrower.

Are any of you contributing to a self-directed IRA?

There are IRA and other designated IRA that can bring down your AGI.  2)If you make way over 150k, than I would suggest investing in a diversified property group with different outcomes (some rentals might not have a good future appreciation or in a bad area, but have a good cash flow that will absorb your other rental loss ). 3) Invest in other business as a passive investor where you can generate passive income.

Possibly say, hey, I can just do this project from A-Z with the right backing/funding behind me (Not really in the position to buy and invest in the materials, but may have access to the funds) and tackle my first official flip project?

I have a tenant that's moved out and I've been doing much of the repair work myself.  The tenant had a cat that used all of the carpet as a litter box.  I had to pull all of it out except one bedroom.  I had my handym...

I am looking into either house hacking/ investing into rental properties as I am a college student with limited funds.

I would assume you would escrow 3 months of this as well to your escrow account to be paid out annually be your lender....Hope this helps, maybe the confusion is you did not realize that in edition to the escrow funding you needed to pay homeowners and flood premiums in full?

How much funding (if any) did you use to get started or stay afloat during this time .

Too small for commercial funding too large for residential.