Hard money is a term used for loans that are backed by the physical real estate, usually coming at a slightly higher interest than a typical commercial or residential loan type due to the higher risk and shorter term period.  

Your cash on cash returns have dwindled because you put more money into the deal than necessary, decreasing your leverage (you have a shorter lever). 

I have not heard of shorter or longer as of the posting.  

There is no statutory holding period but longer is better than shorter.

@Kevin Totland  I have used my SDIRA for loans (notes) to other investors (usually turnkey companies) for years, and those shorter term - 6 months to 18 month terms.  

Our timeline for picking a house and moving is getting shorter and I've never seen a duplex for sale in the 2 months of searching.

If he doesn't want to sign early cancellation, I'll hand over my 30 day termination notice.Otherwise I'll get in touch with his lawyer and do the same.Bad timing thing is that I have a potential lead on someone else interested in a shorter term lease that might be perfect for that unit, which would at least keep the cash flowing on that address while I work on the rehab of the other unit in that house for my BRRRR strategy here.However this plays out, as long as he doesn't manage to tie the thing up and get in the unit after he gets out only to destroy it, it's a great learning experience.  

As a checkbook holder and trustee, you have the control to fund these investments and the decision making authority to structure deals to your liking (shorter term, higher interest, etc.)I'm sure it's just how you chose to word it, but I will caution you anyway that "becoming a lender" sounds a bit like a business whereas what you are doing instead is directing your 401k to make passive investments.The key needs here are a way to contact and negotiate with those who may need loans and some appropriate loan paperwork to outline the terms and secure your 401k's interest in the investment.

As for the post card: Do I keep it shorter, do I send the same message?

If I am a cash offer...we might only beat the 2nd best by $1,000, maybe up to $2500.Now I will also assign values to longer or shorter closing times, ability to perform inspections or waive inspection etc.