Quote from @Brandon Morgan: If you screw up a deal with a friend or relative, you will lose money and the relationship.

My deadline to back out of my real estate transaction and get my earnest money back was Dec. 12.

A $300,000 hard money loan will cost you about $100/day to carry. 

Tell them you are losing money and can't afford to let it continue.

With the hold periods on BRRRRs nowadays, your margins will get crushed with hard money interest payments/points/fees. 

My name is on the deed, but I don't have enough money to do what needs to be done.  

For a hard money loan, you have to close in an entity, it also helps with your credit being the mortgage is not under your name, with a 700+ credit we can usually get you 80% LTV on a purchase.

I make a decent amount of money nearly from my W-2 (over 100k) but still not enough to easily buy another property this year especially if I have to put down 20%.

Currently there are a ton of buyers pouring money into finding deals off market and it's tight any where in the country.

I am kind of new to real estate investing as I got lucky the first two times but now I am looking to invest quite a bit more money and I am slightly terrified.