Quote from @Tiffany Henning: I am in the same situation but ultimately will most likely go with Seth Williams because it is not necessarily a money-making funnel for him but more his heart to help. 

We approached the existing lender for a loan assumption.

Personal loan for renovations How did you add value to the deal?

We're in a small town so we ask our bank loan officer who is involved in the community for a CPA reference.

I am looking at different loan options but to break even (not having to put any money of my own in the house after the initial down payment) the current down payment required is that much. 

Sometimes the tenant just doesn't know about them or their situation limits their ability to apply.

Total profit less closing costs and commissions will be about 42,500 each or 85k total.I would for sure get a construction loan, may be worth approaching 2 or 3 different banks and getting separate construction loans from different banks. 

My point was, find a guru doing that without tainting the instruction with aspects that are or lead to unethical or illegal situations.

@Jim Bice this actually sounds pretty reasonable to me given the situation you described.

Its situated along the Colorado River if I recall.