Hard Money Lending on high repair cost homes

[Jason Regan]

I recently came across a property in Athol (yup way out there) and it looks like I can make a decent profit on it.  It is currently up for $79k and needs $120k in repairs.  I would not be offering the $79k, closer to 50k.  I ran into a roadblock with a hard money preapproval as this is over 2 times the price of the home to repair.  Has anyone run into this and how were you able to make it work if the deal made sense in the end?