Alternative is to use a broker that would help to shop it along to other lenders. 

@Wendy Smith - Here is the challenge will you get a rate in the 6 to 7% range with an alternative lender or hard money lender? 

Experience to most of the lenders we work with is based on how many deals you have closed in your personal name or company's name within the last 24 to 36 months, verified by a HUD-1.Now I always tell my investors that "if" you can get bank or credit union financing the rates and terms are going to be better than what we offer as alternative or hard money lenders. 

We really like the envelopes at the below link, but are trying to find a cheaper alternative.

thank you for the advise  @Gaige Rutledge  I was thinking the same thing  I just wanted some re assurance I guess @Jessica Zolotorofe unfortunately the .com for the website I want is already  taken and i cant think of an alternative I think I will just go with the .net unless a brilliant idea comes to mind

The other alternative would be a live-in-flip--buy a SFH that would pass VA inspection, but needs updating.

Alternatively, you could so a cash-out refi as well.

These are individuals or groups of individuals who lend money as an alternative to big banks.

You might find a Lender in CO that would go with a HELOC - but probably would fall out in underwriting.Consider a Cash Out Refinance as an alternative. 

IMO the better alternative is to build a project that is market rate and includes 10-20% affordable which will allow you to use the State Density Bonus to increase your density by up to 35% (50% in City of San Diego) so for instance a property that allows 10 units can be increased to 15 units .