Hard-money or self-fund?

[Brent T Galbreath]

Would love to know the opinion of some seasoned investors. What would you tell a 53-year-old who is now trying to replace his current income with passive income in this situation? Through an unfortunate passing of a family member, he will inherit enough money to purchase a couple of B class homes outright and while it won’t fully replace his income it will certainly help his portfolio in moving that direction. Should he use his own money and cash out for other deals and save on closing fees and interest or does it make more sense to hold onto his money and use hard money lenders so he reduces his risk by not using his own money? Asking for a friend.