Hard money for rentals

[Ivan Fence]

Hello, i am a foreigner wanting to use creative financing to invest in Florida buying rental single family homes and multifamily properties.

I tried banks but the all want 25-35 % downpayment. With closing costs this will add up to much for me.

I have looked into hard money lenders but the math does not seem to add up for me.

Most will want you to pay 10% interest rate.

This will only make sence on flips and very high return rentals in my opinion.

Has anybody here used hard money for rentals? How did the math add up?

What are my options here?