I need some "Delayed Financing" clarity

[John Hamilton]

Back Story: I purchased a property for $50,000 cash with a partner two months ago. We looked at doing a cash-out refi and had the property appraised in the process by the bank. Appraisal came back at $118K. In this process we would have to wait 6 months. We want our money NOW haha

We are exploring the Delayed financing option now to get our money back and do some work to the property. I am extremely unclear on the way it is written on the terms in which we can get our money back. It says:

-You can get up to the purchase price back through the DF option 

But, also say, 

-You can receive up to 70% LTV (Triplex)

Has anyone done this kind of loan AFTER the fact? I am currently doing the DF option on a SFH I close on next week, but we are billing the closing statement for construction costs. Which falls in line with the PP eligibility.

Any info will help! 

Happy Investing!!