Private lending question/ funding advice

[Casey Nelson]

Got a deal on a house

$150-170k

Realtor gave estimate for listing at $199k

Arv is $285-$315k

Trying to figure out how to swing it 

Scenario : guy I know will front the cash to me to buy it for a cash deal but short term loan basically. 
I need to pay him back 

How would you go about it ?

Already approved for $200k 203k loan but interest is 8%

Goal: get 1st rental (already got a client to rent it for $1500 a month)

How would you proceed ? Open for opinions