The typical term of this loan is 12 months and rates range from 10%-12%.

I borrowed $30k on a personal loan from Discover for 15% with no fees for a plot of land and paid "cash" for it.

Is it hard money loans, angel investors, etc?

Loan officers with 25 years of experience typically are more experienced, and have less time per file, because they have an abundance of files.Loan officers with 25 months of experience typically are less experienced, but have more time to devote to you.I can't write my own loans, so when I'm getting a loan I prefer working with less busy people when I'm doing my own real estate investment, they're more responsive and dedicated it feels like.

Pay Down the Loan Faster:I’m considering applying $40,000 annually to the loan principal.

If you are willing to live in urban areas you may want to talk to a local bank in your market and see if they have any incentives or grant loans for certain areas.  

Not only will you lose your property tax exemption, but you may need to secure LTR tenants.

@Mark Sullivan if you are a buy and hold investor these loans work great.

Yes, very interested in investing and would love to own a few multi family properties, here in state.My immediate goal , so far, is finding investors to secure my proposed properties.What's your strategies?

Bridge loan.