On top of that, there are tons of safety features that likely need to be added to a normal house.

Your deposit is normally non-refundable.It is ALWAYS suggested to get your financing in order BEFORE you make an offer. 

I know trying to time the market is generally poor advice and more gambling then investing, but I am hesitant to start investing in a Roth now when the market feels like it is approaching a peak.

At that income, she would normally be looking in the $2000-$2500 rangeAssume, btw, this person in her 40's -- the minimum to be getting a military retirement (although could be a disability payment, for a younger person).

Currently I am looking at a Triplex in TN that will come to market at approximately $199K.I am leaning towards going with a conventional mortgage however I don’t have the normally required 20% down payment.

What is the normal process ?

If you have a problem with the property you have to get a hold of me like a normal person and communicate.

However, I need to report that I have not done a very good job of having the meetups as regular as I should (between normal work, rehabbing my BRRRR's, but all excuses in the end). 

Normally it’s the higher of the two.  

Normal hard money rates might be anywhere from 10-12% and a couple of points.