Hard Money Lenders and Future Refinancing

[Heba Atia]

I’m looking to purchase my first house which sits on a 5 acre lot. In this area, the land alone will appraise for more than the purchase price but I’m concerned that I won’t be able to secure a traditional loan due to there being a significant amount of mold in the house. The lender I’m dealing with advised that “sometimes appraisers don’t go in the house” and that I can take a gamble and see if they will just appraise it from the outside and approve me for a traditional loan but it’s not guaranteed. In the event that they don’t approve it, I will have to go through a private hard money lender for a couple of months until I’m able to remove all the mold and fix a few minor issues. 

My question is can I refinance again in a couple of months or do traditional lenders require a certain amount of months of on time payments in order for me to refinance from a hard money lender? 

Are there any lenders that you’ve dealt with that have sent appraisers to do exterior walk throughs only? (I read that this happens when the asking price is very low compared to the neighboring comps). 

Comps: 

Selling price: $140k 

5 acre empty lots nearby: $200k 

5 acre lots with homes: $375k-$400k 

Note: this is an as-is sale so the seller is not willing to make any repairs and I plan on having experienced (but not contacted) friends to help do the repairs.

TIA :)