Exit Strategy Advice

[Tim Lewis]

I’m currently doing a deal in Pine Bluff, AR that I bought on Auction.com sight unseen that I thought wouldn’t need much work (I know bad move and I’ve learned from my mistakes). I bought the house for $35K on lines of credit which dropped my credit score and increased my debt-to-income ratio so I can’t get a construction loan from a bank (or at least the local one applied with told me no). The rehab is around $40K. The ARK is $110-115K. I have enough on credit cards to finish the rehab but would that make it difficult to refinance once I’m finished? Should I seek a hard money lender for the rehab and refinance or should I try to flip?