Should I go through my bank or find a private lender for my repairs.

My ideal is cash-flow, so I plan to use the VA loan, but I am open to standard mortgage or private money if that's what it takes to find something that meets the criteria quickly.

Here is the info:Tenanted duplex with 2 2br/1ba units, both tenanted and renting for $600 each.Financing is via private loan at 4% interest only payments and final balloon payment at end of term (5 or 10 years, tbd)Asking price : 57,900 ***note: following numbers are assuming the seller's asking price, which I would NOT offer***Est'd ARV: 60,000Est'd rehab cost: 15,240Closing/Legal cost : 1,500Down Payment : 17,000Total cost of project : 70,400Total borrowed amount : 53,400Total Gross income : 15,880Total Expenses  : 9,054Net Operating Income : 5,478Annual Debt Service : 2,136Cash Flow : 3,342Even with the over-market asking price, this property is already cash flowing.

@Michael Stange I only got 2,000 of my own money to put in, if i get a private money lender to put the remaining 9,225 , how would i pay the private money lender , with the cashflow or when i refinance?

Been looking at private investors, foreclosed homes, sherrif sales and so forth.

For me personally, I don't because it's not my style in generating business. 

@Eric A. and @Hubert H Byron III - I use a regular battery operated Kwickset #913 style lock on my SFH rental properties (all LTRs). 

You can still do asset-based financing (examples include hard money and private loans) if you can't secure traditional financing.

You can either find private money from family and friends, or you can go after other private money or hard money.

Is this a private money loan?