But the rates can change on those and the amortization period is shorter.

I understand hard money lenders have higher interest rates & shorter loan repayment terms.

If you buy there make sure you have a ten year exit plan, or shorter.

I'll try to be shorter in my response. :)

However, the loan terms are more commercial terms so you will see shorter ammotizations and pay a premium on the interest rates.  

You can amortize over a longer period but have a balloon after a shorter term if you think you'll sell or refinance (20 yr amort with 5 yr balloon or such).Find out what the seller would otherwise do with the money and offer to do that for them.  

Typically you would build the wall 3" shorter than the floor to ceiling height and hang it from the floor joists of the ground floor.  

Therefore they are relocating where commute times to work are shorter.5.

@Johanna Rustia If it is an owner occupied dwelling you can get a Home Equity Line of credit, with rates between 2-4% and a shorter payoff.

Until then, it's a nice springboard; makes larger investments more affordable in a shorter amount of time.