They would like me to finance the $70,000.00 into a conventional mortgage and also have them as a lien holder with a promissory note of $100,000.00 with $300.00 monthly payments with 0% interest until maturity.

Hard money lenders specialize in providing short-term loans for real estate investments, typically with higher interest rates and shorter repayment terms than traditional mortgages.

I will rent out this new house, covering my mortgage payments with the rental income and steadily building equity over the years.Let me know if you are interested in doing something like this in Southern California, I have my team (brokerage, lender, architect, GC) ready to go.                          

I find it more useful where I need up to date leases and online rent collection capability.

(Granted, I realized after I created the verbal agreement on price with texts for proof and the lease that I didn't apply the discount I had advertised online.

Is it a 30 year mortgage? 

These gatherings frequently offer insightful discussions, networking opportunities, and education.Join Online Communities and Forums: Take part in online communities and forums devoted to real estate investment, such the Facebook groups for Ohio and Upstate New York real estate or the BiggerPockets forums.

This way the tenant rent could pay for part of the renovations as well or the tenant could just reduce your mortgage payment so you gain wealth quicker to keep purchasing properties. 

My experience with the FBI  has been for mortgage fraud  Borrowers of mine committing mortgage fraud not with my company but other companies and a big one that was doing sub too deals and ripping rents and never paying on the underlying s they stole millions and 100s of loans went into default causing massive bank loss's and the original sellers getting their credit destroyed..

I’ve pondered buying a cheaper 100k rental cash to essentially fund a personal home mortgage if I could find one.