I'm a mortgage broker and have lenders who won't even look at credit scores for Hard Money.

Am I thinking about it properly?

If they have a mortgage, I just use what it states on their credit report on if it's good or bad (do they have late payments).

I struggle to understand that logic, because at that point buy off the MLS where at least you will have a proper and secure close. 

I owe about 60k on the mortgage.

Builder ends up screwing us over and we are out $250k which we are in the process of trying to get back.In the meantime, I'm trying to get a private or hard money loan to finish the buildsCurrent mortgage 273,000Rehab 1 - 150,000Rehab 2 - 150,000Current value for both places approx $350,000ARV $1,000,000 for bothPlan is to refinance and hold as STRI feel that these numbers are reasonable - am I missing something?

I created a VA LLC with my daughter as the owner (for my anonymity and asset protection), and was planning to hold private mortgages (using another LLC I created), to strip equity and for anonymity.  

MikeI have several houses with 30yr fixed mortgages, one that used to be my primary but is now a rental.

Most likely without properly screening potential buyers to see if they are even capable of buying your home2- you can list on your own on streeteasy, loopnet, and most property websites you go to search for homes on.

The second property will be purchased with a mortgage (you can determine how high or low the leverage will be by adjusting the proceeds you use or the price point of the 2nd replacement).You are adding some measured debt at a level that your dad can be comfortable with.