What state are you in? I

To help dial that in I recommend learning some on your own and narrow down your strategy of focus. 

The market we want to buy in is very hot - multiple offers on most homes - and we would need $250K-$350K to get what we want.Has anyone had a similar problem getting financing (or enough financing)?

The opportunity to add sweat equity in a home that I was comfortable living in. I

The opportunity to add sweat equity in a home that I was comfortable living in. I

If that's something you're interested in, I can explain in more detail.

As I kept reading, however, Frank explained how the actual calculations behind IRR assume that all cash flow coming in is being reinvested at the determined IRR.

As someone who grew up in CA  has invested in Texas and NV and IN  I once did a same comparison TX vs CA and factoring for prop taxes this became a 6 figure matter over longer hauls with just one 400k property with same appreciation rates etc. 

I saw some good deals from wholesalers, but all they request to pay cash or hard money.Is it wise to use hard money to purchase primary residence, rehab, refinance, and move in? I

I told him I was and thinking there's still other competition on in, I offered full asking even before getting a virtual walk through...