They don't probably need the lump sum amount either.Is this situation usually written into an owner finance contract i.e. you can't pay off the loan for "x" number of years?

Anyone have any good advice on getting a better deal on the service in these situations.

I’m a newbie and I genuinely want to explore and understand hard money options, so I can set up my financing and get going.Please ask any questions, if that will help with my situation. 

So I guess it is okay to qualify a retiree a little differently since it is a different situation?

I'd be fine with it, but it probably wouldn't fit my future situation.

I'm facing a similar situation currently.

I have the exact situation in Vegas.l have the experienced operator and my investors just bought the a run down home .

The property is in a distressed situation and would definitely need a remodel to sell for retail value (we might have to move some walls around to make the property more desirable). the property is around 60 years old with 995 sq. and around 400 sq unpermited on top of that and there is a mortgage of around 255k on it.

I will be reaching out to banks soon enough but wanted to see what you all thought of my situation and how likely it is they would lend to me. 

Again, this is a delicate situation and requires careful handling.