Or is it better to wait out the seasoning period with your loan balance (I used a HELOC so no hard money lenders or balloon payments) and just refi out in 6 months?

@Eric AndrekopoulosHe could also sell them and not have to worry about if the borrower is paying or not - put the funds in a deferred sales trust and invest it in something less risky (not levered at 90% which is probably what it would be seller financed) and not pay ordinary income but have it taxed at qualified dividend.There is a reason why 99% of loans are originated by banks and not by sellers.

O have also taken the max loan out to buy REI, and paid myself back at 10%.

I am not an investor but a residential/commercial broker; I am new in BiggerPockets I was just customizing my preferences and Richmond is one of the areas as I do loans for primary, fix and flip, and rental properties.

10 unit multifamily is considered a small commercial loan, which limits your choices. 

Budget and financing options should be considered, including conventional mortgages, FHA loans, or renovation loans.By focusing on these factors and conducting thorough research, you can narrow down your search and find a vacation home with rental income opportunities in the Orlando area.

Because lenders often won't loan on a property with foundation problems. 

I am looking to get a hard money loan to purchase and rehab, but don't want to hold the loan for 10 months and then start the rehab.

Hard money, then a conventional loan How did you add value to the deal?

Should I get a loan or seek private investors?