Common terms for private money loans include interest rates ranging from 8-15%, short-term durations (usually 6-24 months), and LTV ratios around 65-75%.

Here's the problem: Inventory.

I am looking at the landscape of other multifamily GP/LP deals and it seems there is a wide range for both IRR and equity splits between GP/LP.

You'll need to pay a greater premium in those neighborhoods with the tight inventory most of the time.

I may be out of my price range, but the deal does look good, so I'm wondering if anyone has any thoughts on gap lending for a part of the down payment.

You could try posting in the classifieds sections of BP for a cleaner but google may be the best bet.I think $3,000 sounds like a reasonable starting point given the range on Furnished Finder. 

I’m being serious when I say this as what other options do buyers like us have when the median housing price here is $980k, and inventory is around a month.

I even have a few  off market properties in our inventory that have tenants placed.  

All Counties saw 40%+ increases in inventory.

The other listings in the area offer a lot of context on the land, setting and the style of homePricing - From the limited date range I checked, I do think you are actually lower than almost all...