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?

@Ellie Narie to build a home would require 2 different loans or a "one-time-close" loan. 

To find places with high rental demand, good economic circumstances, and room to develop, conduct in-depth market research.Examine your alternatives for financing, including conventional mortgages, private lenders, FHA, VA, and partnership loans.

Purchase price: $915,000 VA purchase, sfh, 1st floor fully remodeled for sale, incentives in purchase - 15k cash credit (paid warranty policy, outstanding HELOC, loan fees).

So we left the name out of the loan but will include in the title.

If they are financing the purchase with hard money loans, they would need to acquire the property at 70% to 75% of the ARV minus repair costs to maintain that profit margin.

Once I have located such a property, I buy their property for below market, (instant equity) no bank qualifying, no credit checks, by offering to take over their loan and make their payments for them.