Hard Money Advice Wanted

[Brandon Heist]

Hello all you flippers and keepers! 

A little background on me: My name is Brandon Heist, I am 23 y/o living in central Pennsylvania - I have been COO of a website development company, VP of development for a Land Development company, a dishwasher, bartender, (almost) a Marine, a college dropout and many other things. However, I come to you in this post as a rookie seeking to take the first steps in building a Real Estate Empire of my own.

As of the past several months my primary partner and myself have begun "getting our ducks in a row" in preparation for our first few deals. With that, today we met with a hard money lender and I am seeking feedback on the options for funding we were given. 

Option one:

10% + two points - property would have to be purchased for 45-55% ARV with $25K anticipated gross profits. Loan duration of 100 days, 1.5% interest added after 100 days.

Option two:

7% 40/40/20 split upon closing (lender being 20%) - lender would completely finance deal: purchase, rehab, closing cost.

Now with all that mentioned, which option would you choose? Why or why not? 

Thank you for all the help!!