HML or Private Lender for Seller Finance Deal?

[Jevaughn Johnson]

Good Morning All

I have a 3/2 SFH that I want to Buy and Hold.

Property is going for $80k. I have had 2 contractors give me estimates for roughly $35k. ARV is $156k. The idea I had in mind was either get a HML or a Private Lender to fund the down payment of 20% to the seller and the repairs which would equal to roughly $51k. After 6-12months I would refi the property and pay the lender back and the majority if not all of the remaining balance to the seller. Rents in the area are $1300/mo. Due to the condition of the property I don't think it would qualify for an FHA/203k loan along with my credit not being so great and me not having the up front money for the down payment. My question is would it be better to go through a HML or a Private Lender and is this type of deal even possible??