Hard Money Lending to purchase a rental

[Kenny Anderson]

I have a newbie question. I see hard money lending is usually used for flips. Would there ever be a situation where hard money could be used to purchase a property that could be a buy and hold and used as a rental? Seems like the fees associated would be too high and it wouldn't make sense to use. Just trying to figure out financing options to obtain properties in the $250K-350K range without using traditional financing.