Is this deal worth it?

[Zulu Black]

I'm interested in buying a 4plex as a primary in NYC at 1.3m. However, I only have enough funds for 12% downpayment. I'm not able to go the FHA route because the property will not pass the self sufficient test. The current rent roll on this property is 9.8k/mo and each unit pays they're own utilities. I do have the opportunity to raise the rent to $12k/mo when I get the place. The place will not need any work done on it and is ready to go in day 1. My broker recommended me to get a Hardmoney loan as a 2nd mortgage is help fund the remaining 8% with rates 12% (2 years term, 6 month
prepayment penalty, so the monthly payment for HM is $1,040/mo. See table below:

I have another business that cashflows $7k/mo and I was thinking I could use that cashflow and use it to pay off the HM loan. What are your thoughts?