Funding the first deal with Private or hard money?

[Sam Epperson]

I'm following Jake and Gino's Credibility Book plan, where we decide on a specific strategy and focus on proving experience. This question is about how to fund our deals. My social and professional circles are quite small right now, as we've recently moved to a city where i know very few people. 

I want to buy small apartment buildings in the suburbs and small towns that are a-plenty in this area. I'm looking at 5-50 units. 

I'm going to build a relationship with a local community bank or credit union to fund the majority of the property (75-80%). I'm hoping to find owners willing to do seller financing on either the entirety of the rest of the loan (20-25%) or something like 10%. That leaves me with finding funding for the final 10% plus rehab costs.

How to fund this portion?

Do most beginning investors use a hard money lender? Do they do private money? I'm hoping to find something like a 10% interest-only loan for 2 years. Refinance after 2 years into a non-recourse loan, pay back the private money loan, and hold the property for cash flow for another 3+ years. 

My wife and I have committed about $10k to help with closing and up-front costs.

Am I in the right ballpark?