Real estate investing 101.Hard money lenders usually lend 65-75% of the project cost, charge 12-14% and 2 points for origination. 12% fees is a huge red flag, the only you'll get from "Midwest Corporate Credit" is an ulcer from the stress of losing $7,200.Raising $60,000 isn't too difficult, if you talk with friends and family and maybe a real estate attorney or two you should be able to raise it.

Do you usually remove the vacancy rate from your calculations for a single family?

@Tony Castronovo Might I ask what it is that you are doing extra to the properties? 

However, it's still better to get into the market with extra cash-flow coming in than to wait.  

Given the "range", perhaps make your decision based on the percentage increase in gettable rent vs the percentage extra it's costing ie.

I usually find them self-listing on zillow. 

If you do win the bidding war, and you found out it's not a good deal, you can usually cancel it during the review.

If you dont work in an industry where loan forgiveness is possible (education usually), do some research in to private fixed loan consolidation.

They are usually on the second Monday of the month.

As a rule these "accidental" landlord situations are usually a sell rather than a rent.