Hello BP,I feel like I have found my "diamond in the rough" and I am trying to brainstorm the best way to present the deal for a hard money loan or private money lender (which I am still trying to find a nationwide one because I am out of state.) 

So is it worth it to buy a single family home that needs work and fix it to sell it or should I stick it out and try to find a diamond in the rough for a multi-family home?

But to me, its a diamond in the rough.

Check out BOB DIAMOND HOOKED ON OVERAGES COURSE.

So, you have to add up all of the costs to figure out if you got a diamond (probably not) or an "okay deal" (pretty typical) or a lemon (more often than advertised ;-). be sure to get the details before you write a check. 

There's a small but active group of Rhode Islanders here who will be happy to help you with any questions you might have :)I also typically recommend people attend local RE investor groups such as RIREIG which meets monthly in Warwick and Black Diamond REI which meets monthly alternating between Worcester MA and Burlington MA.I know a lot of local investors who also work full time, and it can be a grind, but the nice thing is, banks love to see that W-2 income so it should be easier to build up (though harder to juggle everything, of course :)If you haven't already seen it, I do recommend the Bigger Pockets Ultimate Beginners Guide and of course, the entertaining & informative BP podcasts.

Looking to chat with someone who has experience using a hard money lender to purchase an extremely distressed property with a lot of potential.I've been in the commercial real estate space for 5 years, my broker has been around for 30 and we work very closely together and have several (recent) properties we turned around from under performing / distressed into 12 caps.... but I'm only ever making oney on the commissions.Found a diamond in the rough and want to look at options of picking it up.

Time and pressure create diamonds from carbon.  

@Derek Diamond will do that.

I try to avoid doing deals with those companies unless they have a DIAMOND of a property that is hard to find for my client then I will deal with it.