What types of deals do hard money lenders like to invest in?

[Richard P.]

I think it would be a lot of fun to involve private investors on some of my real estate deals.  I think there are some great advantages.  The leverage is helpful when my personal cash is low and there are more eyes evaluating the deal.  My question is, what are private lenders typically looking for in a deal?  Do they want to lend money short-term or have equity in the deal?