Vs.1 Aliens/exiles who are scattered and who are chosen: God knows your burdens. He has lovingly tailored them for you and you for them, that in them you might cling to Him, for His strength is made perfect in your weakness.
Vs.2 Foreknowledge of the Father, sanctifying work of the Spirit, for obedience to Christ + an allusion to Christ's atoning work. Great picture of the trinity here & the active role of each member of the Trinity in salvation. Peter closes the verse in compassion for those exiled.
Vs.3 Lest we think too highly of ourselves & the role we play in our salvation, Peter reminds his readers here that [God] has caused us to be born again.
Vs.3 We are reborn--given life--through the death of the chosen one. Given LIVING hope because Christ declared victory over sin and death in the resurrection. The only thing that could rob our hope has been defeated.
Vs.4 Lest we think the permanence of our salvation rests on us, Peter challenges his readers that their inheritance is "imperishable, undefiled, and unfading, kept in heaven for you."
Vs.5 We are kept--eternally secure--by God's power.

1 Peter 1:1-5