Acquiring at 50% ARV in order to obtain HML financing?

[Ryan Biankowski]

I'm just about to receive a nice cash-out from a refinance of a Live-In flip I've been working on for the past 2 years.  I'm looking to start flipping on the side with a general contractor.  I've been non-stop researching how to execute this for about a year now but I am having issues with deal analysis.  

A local HML will fund 90% of purchase and 100% of rehab up to 65% ARV. With estimating basic rehab costs on the lower end, the property would have to be purchased for about 40-45% ARV in order to actually get rehab and unexpected costs 100% financed. Otherwise I could try to acquire the property for 50-55% ARV (more realistic) but this would leave me funding 5-10K out of pocket for rehab as well.

I know there are a lot of variables here, but for anyone who understands where I'm coming from - can you please provide some insight on how to overcome this? Do I just need to find a HML that will do the same number but will lend 100% rehab up to 75% ARV?