First Deal, in Need of Guidance

[Moise Julien]

Hello, i am Julien and I am looking to get in my first Deal but I am in a bit of a bind, so i'd like to get some advice from the knowledgeable BP family

We recently got to sell our single family house due to family issues and it was a blessing but there are always issues.

In 2015 i did a Chapter 13 BK to stay out of foreclosure and it was dismissed in 2018 due to non-payment (family issues). Now I am trying to get my first deal underway and we are about to close but the initial investors do not wish to fun the deal due to certain guidelines set up by Freddie Mac and Fannie Mae and now they are asking for a Higher Down Payment 20% and have raised their Interest to 7%

The property is a 325k Duplex (3/2 & Efficiency) with Rent $1600 & &675, fixed and based on local comps found through RentoMeter rent can be raised to $1900-$2000 and $800-$900 respectively; i have about 40k but since now they are asking for 20% down, i need a total of 64k to put down.

I've considered backing out of the deal and fix my credit all out and look for a new deal next year or try to force the matter by getting a private loan to put down on the property. I'd like everyone's opinion on the matter please.

Also, do we have access to any private loan with Interest Repayment until refi (18months) here on BP?

Anyhow, i look forward to reading the replies and thanks for sharing your opinion and knowledge.

Thank you,

M. Julien