If you have doubts do not go with it is my adviceIt is a lot of money if you have second thoughts rightThere will be other deals in Gulf Shores ALFrankly it is not such that thousand people are waiting in line to buy there:)

I don't think Hard Money is risky at all. 

Is there a way to offer and buy a property for cash (either private or hard money) then refi into a mortgage at 95% LTV?

Is anyone using money market funds for this purpose?

You will lose your money.

Hire a great real estate agent and let them help you- that's the best thing you can do to make more money. 

I would not play around with creative finance in terms of spending time trying to find it because it will end up not being the best use of your time unless you have marketing money and understand the different scripts and way you can help people with seller finance or sub to.

Also, since it is nearby the LA county areas, how does earnest money work?

We are at likely record high price to rent ratios (like much of the country) without much upside on rent growth in the mid-term paired with steeply rising taxes, financing, and insurance costs.

I won't be another grown man's emotional punching bag for any amount of money.