Typically hard money lenders will lend a maximum of 70% of the ARV so if you are below you will have more flexibility on the initial loan and the refinance (better terms or higher cash out) and of course more profit if you sell

HOWEVER, when it came time to fund the loan - he started asking for MORE FEES!

Happy to talk further on the area (we are large enough to offer options to focus on student rentals/UW Madison campus, and anything from Class C to A locations or suburban/surrounding communities) but to help you consider broad initial search, you could start by deciding how important cash flow is. 

If you don't plan on paying cash and have to leverage with an owner-occupied loan product then you should set up your LLC as a property management company because you will not be able to borrow in the name of the LLC.  

The rent from the other units is used to help you qualify for the loan as well.

Our one  insurance has problems with fireplaces but that is a student rental.

In our case we tripled our deal flow when we started a program of direct email to mortgage brokers, real estate brokers, and real estate investors who could bring us either mortgage notes for sale or new loan opportunities for loans not qualifying for commercial financing.  

I think this was to ensure your buyer can qualify for a loan.

I'd anticipate financing wise at least 6 months but would always recommend a 18 month financing term on your loan if your getting one. 

I did a DSCR cashout loan from my other rental to buy and reno.