It's my understanding that hard money lenders aren't necessarily the formal businesses you might find online, but simply any person/entity willing to provide a short term loan, collateralized by property, and willing to take (mostly) interest only payments and defer full / majority repayment of the principal upon the term end.

If you are sure you want to put your hard work, drive, etc. into real estate my advise would be to become an agent with the goal of not simply brokering transactions but ultimately using your license for your own benefit as a principal.  

@Dan Pezzano Welcome.Are you familiar with the "Peter Principal"?

And what does that mean - off the PRINCIPAL, or only $70k's worth of monthly repayments (which may have only taken about $15k off the principal)?

Nearly all unsecured LOC's are extended to those with significantly more liquid assets than the principal. 

I have a duplex that is basically breaking even but we will save $550 by going from a 5.5% fixed down to 3.5% on the remaining principal (no cash out).

I reckon the "principal-only" repayments (rather than the more usual "interest-only" repayments variation) is the BIGGEST plus for this deal!

I can refer you to my investing group's financial experts (accounting firm / law practice), if you like.Where the issue may be getting confused is that the interest on financing is an operating expense for income property, but the principal portion is booked under debt service, as I understand it.

You can refi up to the HML principal (+ closing fees?)

If you do sell within the next three years, you'll probably come out even, as you added the additional loan costs to the principal you need to pay down and your house will may be underwater (assuming you bought at market and there isn't crazy appreciation where you bought your house).