I'm looking for a duplex to house hack in my area.  I've looked about 10 places but only one has been of interest. There were over 25+ showings I saw within 2 days and I was very close to the highest bidder but didn't get it.  I realize it is going to be more difficult and don't want to get into bidding wars with people.  I'm looking to fix up the duplex and found a wholesale company in my state. 

I got in contact with a wholesale company in my area.  I am not too familar with wholesale.  They told me they would not accept conventional loans.  I have been pre-approved through a mortgage company and credit union.  Since they are wholesale, they recommended I talk to this man who offers hard money loans.  My concern is the interest rates are about double (6% vs 12% for hard money loan).  I only have about $50,000 to $60,000 to startup for my first property.  

I still have to consult with the hard money lender, but are there any other options other than hard money lenders?  They accept cash (don't have enough cash upfront for $200,000 to $250,000 duplex), private funds, hard money loan, or a commercial loan.  Any advice on financing if they will not accept my conventional loan.

I guess the biggest interest is that there is less competition and it seems like these wholesale deals are more of what I'm looking for.  It offers more duplexes in my area that are off-market.  They said it would likely be better to pay more interest with a hard money loan for an off-market deal than on-market.  Any advice for me on loans or options I have to finance this with a wholesaler?  

Thank you very much.  I am just getting into owning real estate and don't want to lose money on my first duplex.