This is simply done by over-funding my policy, borrowing the money out at 4% or 5% to purchase the note, and making the spread.

Are you just looking for the acquisition funds, or are you looking for acquisition and rehab money?

I would then take the refi funds and then pay off the hard money loan and recoup the personal investment.How difficult is the refinance process?

If I were in your shoes, I would go the route of raising her rent to $850 and taking a chance on her.  

From there, you could take a line of credit or be refinancing to pull cash out and then really come up with a plan for that cash to multiply it through flipping, buying, rehabbing and raising rents, etc. 

Then from there, referrals and meeting others at meet ups, online like right here, etc.Most all of my deals over the past decade plus have been funded with private money.

After a over 200 calls discussions with investors via phone calls, I discovered that a notable portion of my time is spent reprogramming bad money habits created by the way we were raised.

If the fee for the tenant is going to be, say, $1200, just raise the rent by $100/month and pay the agent yourself. 

Next, IF you have access to private funding (family, friends, colleagues), THEY would likely charge less than HML Interest Rates for any balance still needed.

Do you renovate interiors as tenants leave or do you encourage vacancy by raising rents and getting the rehab done more quickly?