Hard money financing, wholesalers, and a duplex w/ tenants

[Neal Collins]

I wanted to throw this out to the community for a pressing question I have. I'm looking at a potential deal on a duplex that just was put under contract with a wholesaler. I'm looking towards hard money right now as our private money source is temporary out of the country and not able to give the go ahead on any acquisitions. What I am concerned about, however, is how this usually plays out when there are tenants in place on a lease (not sure yet when the lease expires). Construction budget is around $60k and we are headed into winter (aka rainy season) here in Oregon. I just don't want to be caught holding an expensive note with tenants living in a place unable to get into it to rehab and potentially already squeezed on a timeline due to weather.