Becoming HML or Private?

Well, I am a new investor but my ideas/goals are not. I do not know all of the technical/legal aspects of my goals but am willing to learn. The question is which is going to bring a higher ROI, becoming a HML or Private lender? And what do I have to do to become HML? Private?

My goal is to wholesale enough to pay off debts first, then to make 50-100k then become either HML or Private. Of course, in the interim I would still be wholesaling and learning short sales, and foreclosures. Eventually, I want to rehab, and own rentals. But REALLY want to become a lender of some sort because they have nice ROI.