But I find that most people want to invest in areas that are solid and that don't have bad tenant quality.

At least 2 US credit scores required to qualify.

Too many investors waste time chasing bad deals, overpaying, or relying on outdated strategies. 

To answer your questions here though:Alternative options - I was going to sell all my stocks and etfs, take out a HELOC, and some credit cards to try to shoestring together enough to the deal without a hard money loan. 

I have over 30k coming in very soon and working on credit score.

For financing, you might want to consider reaching out to local banks or credit unions.

Too bad you need to eat the high conversion rate now.

(Not factoring any issues)  Is this a bad deal?

They're not bad.

If you try to do it all yourself, the risk is much greater because there are many more opportunities to make a bad decision that can be very costly.