Fix and Hold

[Michael Hanson]

I've been interested in getting starting dealing with investment properties for a few years now and about to pull the trigger on a property after hundreds of analysis. Before I start work full time at a large accounting firm I dedicated my summer working at a real estate investment company to learn the ropes. Now that I have finally found the perfect rental property I'm trying to get the proper funding. As being a recent graduate with no history in the business "per say" you can imagine the sort of rates I'm getting from a traditional lender. 

I realize this question is posed multiple times but wanted to see if there was anyone whether currently in the same boat or has experienced this to lend some insight.  Basically the breakdown becomes:

Loan amount: 30,000

Budgeted Fixed Costs: 5,000 to 6,000 (funded by me)

Net operating income: $790 (after taking out vacancy, repairs and cap x)

Would it make sense or be advantageous to take out a hard money loan right off the bat and refinance a bit down the road to pay off the hard money loan? Or keep attempting to find private funding through family or friends?