Are loans from Hard money lenders a good idea on first rental?

[Jose Gonzalez]

A house was just posted 3 minutes away from my primary home. It’s a great opportunity but I’m not quite ready to pull the trigger on buying my first rental property. I wanted to save more money for a bigger down payment and also get my credit score into the 700s which is currently 660.

The house is a foreclosure and the bank wants 130k but the zestimate is 365k. The median house value around me is 350. The house needs minimum rehab. It’s a great opportunity and I’m contemplating of reaching out to a hard money lender to jump on this opportunity. Any suggestions are welcomed on to what to do. Should I wait until I’m ready and feel comfortable with the down payment amount and credit score or try and get this opportunity???