re: Private Lender

May work out great, may not. Just reading your post, my concerns would be....

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He is currently doing 3 to 5 properties a month across mostly South Texas with plans to expand more into Central and East Texas, average flip period is 2 to 4 months, with 6 being the longest to date

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The real estate market has been slowing down thanks to the economy and rising mortgage rates. Houses are taking longer on average to go under contract now than they were 6 months ago. If he has to start sitting on multiple properties for an extended period of time before he finds buyers, is he going to be able to keep up with the monthly payments on these loans while they sit on the market? Or is he going to be over-extended and missing payments?

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If something doesn't go to plan I'm told I can foreclose and get the property which would be for the purchase price.

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You can, but do you have the time to deal with all that? Going to the courthouse to file to start foreclosure proceedings. Possibly having a bunch of repairs to still make before being ready to list. The back and forth negotiations with buyers or dealing with issues that come up in a buyer's inspections.

Maybe the guy you made the loan to ended up overpaying, since there wasn't an appraisal done ahead of time.