@Zach Howard
when you say a 'personal loan' at that interest rate - that must be a friends and family thing, right? no one is commercially loaning at that interest rate right now. and even for friends and family, that's more of a favor than a loan...
you asked not to sugarcoat, so here goes. what you're proposing, while possible, is incredibly difficult and highly risky, and i don't know how you would do it completely remotely with no plans to visit or set up a team.
i think i've said this in other posts, but there is tremendous demand for inventory right now among both retail buyers and investors. to BRRRR something, you need a goldilocks property - something distressed enough that it can be bought substantially below market, but not so distressed that it can't be repaired. everyone wants those deals, and so you're competing remotely / from your computer against experienced investors in person in any market you'd pick. on the chance that something comes to you somehow - you'd have to snap it up / put it under contract immediately, and again, that's very difficult to do remotely. as an example, you'd have to do something different than this:
https://www.biggerpockets.com/forums/963/topics/1195280-expe...
https://www.biggerpockets.com/forums/48/topics/1137397-balti...
https://www.biggerpockets.com/forums/48/topics/1137397-balti...
i am trying to do the same thing locally, in person, and it's difficult. everything on and off market gets multiple offers almost immediately. and if it's sitting, and you see it, it means everyone else passed on it. what does that tell you?
on your second question - you're proposing 100% financing. you'll be cash flow negative / losing money, potentially for years and years. it's your money, so if you find something in a market you believe in and want to try to hold it very long term, OK - but again, it will be many years before you recoup all the interest you'd be paying. i don't think that makes any sense - there are investments that make money - but YMMV.
hope this helps
