I would also need to break it down with the rental calculator to see how strong of an asset it is.There are some creative financing deals even with traditional financing (like 2-1 buy downs) that many of my buyers have been using recently. 

If you both qualify for traditional financing you could do an operating agreement/joint venture agreement and open joint accounts in a similar fashion.

Quote from @Christian Padilla: !

In fact condo's are pass for me in almost any market outside of traditional condo markets like NYC. 

That being said, I do know a good credit repair specialist who may be able to help you recover your credit score and then you could go and get a traditional mortgage to replace the hard money loan.

If the PCR shows the property as UI (UnInsurable) then many traditional lenders may turn you down. 

HMLs are a crucial short-term solution for properties needing significant repairs, and for investors not wanting all the red tape that comes with traditional products.

The lot I'm interested is in town, has access water & sewer available, from all perspectives what are things that are different than buying a traditional pre-built home.

The overall goal is to do the traditional 'stack' over the next 5 years (duplex this year, double the number doors each year for 5 years, a la Multifamily Millionaire).

I know a guy that needs to sell and he can't sell it by traditional means do to issues with the property.