Private Money is simply money from a non-institutional source...such as someone lending out of their personal IRA or from their savings. 

I will save you some time by point out things that other Gurus or Section 8 investors wont tell you.1.

Ultimately, he was making $2,100+ a month per unit!

Just save money and etc....This conversation is not for you.

I bought this property with a private interest free loan from a friend. the person i bought it from need cash fast so i offered them a low cash offer and they accepted.I had enough money saved up to rehab the house with my savings.

Cost to wait is maybe save couple grand on zoning attorney but could potentially make that up by earning some rent earlier (vs. unused space). 

By creating a process, you can prevent these issues from taking place and save yourself a lot of time, trouble, and money.

My ultimate goal is to house-hack this deal as well. 

I have now saved $200k (liquid) that is ready to be deployed.

Instead of shelling out $60K for a $250K deal, maybe some of you can help me figure out (or give referrals) to title companies, etc, or give overall advice how to save me money from this enormous financial endeavor (closing the deal).Thanks!