But, I want to keep all options on the table. 

After all this is done, you’re now at the closing table.

Only you know how much value each one is bringing to the table.

@Mike Hartzog  correct... in our world 2nds simply did not happen all first trust deed or mortgage lending and all collateral assignments of said.now my facility at Umpqua 4 million.. they would not actually record the assignment they just held it and we gave them an alonge'  they would only record if they were going after the asset.Riverview and Columiba community were I had the same facilities only larger they recorded everything so the transaction was a little more cumbersomeand of course we had to close the loan with our own cash then back fill.. much like a conventional lender who does table fundings then sells in the secondary market.. but once the machine was up and running it went well but it took staff to run.. that's for sure.

I have set it up from 6-10% with private money but usually, even with family, I’ve brought money to the table as well.

If they are wanting an absurd amount that kills the deal it is better to know up front rather than at the closing table.

My builder is willing to bring $200k to the table, although I'd prefer to finance the whole project myself if possible.

However, it wouldn't necessarily be the best investment strategy to take an asset off the table in order to settle bad debt. 

If you cannot refinance, you may look into selling the property after the tenants’ first lease is over.Risk 2: Time or cost of repairs can quickly take profit off of the table.

Ideally you want to be sitting at their kitchen table, contract in hand, when the truth dawns on them.