I need about $250,000 and would like an interest only loan on no more than 10%. with no prepayment penalty. ( or a bridge loan)?

All signage and advertising can be in the DBA, and if you go the route of local banking, that too can go in the name.Now there is a caveat, in that should the existing holder of your LLC name in Ohio decided that some of your advertising was infringing on his business, he could go the route of the cease/desist, lawsuit, etc, but you can cross that unlikely bridge when you get to it.

I would love to get this property from him and professionally market it to an end buyer but it still comes down to burning a bridge if the idea is not received well.

@Jeff Bridges@Andrew Syrios @Thomas B. 

I would talk to a commercial lender first, but in theory you should be able to improve the units with a bridge loan, generate revenue, and get a commercial loan based on it's new value as an income producing property.  

If your looking to use this as a bridge then pay it off make sure you get a 0% rate for a specific amount of time but be careful opening up a bunch of new CC's as this may affect your credit score if you try to then get a loan. 

They are bridging a gap rather than providing a 30 year solution.Note that even with conventional financing the typical loan is paid off after 7 years (sale or refinance causing the loan to be paid back early).

that are keeping it from being worth 1.1 to 1.3For this deal to make any sense I would need to assess whether I could bridge that gap between the $900,000 he wants, which is more than maximum this thing is actually worth right now otherwise it'd be sold already, and the 1.3 homes.

I do structural engineering but mostly bridges and highways but same principles as buildings.

There's no bridges to burn, they're already burnt.You can be direct and let him know he didn't perform and offer to settle for a refund of any and all the fees except interest on the money used.