For the most part, most lenders are going to be relatively close in cost assuming we are talking about a straight forward loan product, we all borrower from the same pool of money to make these loans. 

If its four months from now, then explain to him he's going to be evicted, will have a record, and it will go to collections for all court costs and rent money owed, to the penny.

If you're willing and able, I do recommend the "house hacking" strategy which is just a fancy name for buying a rental property and living in one of the units, because you'll get very favorable financing - an owner-occupied fixed-rate 30-year mortgage.I'd also say, analyze that property as if you won't live there and it's a pure rental, and make sure the property is still cash flow positive if there's a tenant in your unit because then you'll know if it's actually a good investment.And when you analyze it, include payment of a property manager in your #s because if you don't, and doing so would make it go cash flow negative, then you've just bought yourself a job because you literally can't step away from managing it without losing money.

So many "investors" bury themselves in complex, expensive situations to protect themselves from some unknown threat to their non-existent business.Figure out if you have any shooting skills (or even enjoy the game) before spending money on $600 Nikes or an indoor basketball court. 

If you've got to ask a question on an online forum about managing an out of state or out of country renovation, you aren't ready to do this on your own.

And you spend all that money on updating it will be for not.

Most of the properties we acquire are with little to no money down (even $0 down!)

Fortunately, we didn't lose money on this property but just broke even.

Hard money then refi residential 30 yr How did you add value to the deal?

Can you spend money on a CRM, automations, VA calling service, a VOIP phone system, etc?