If you are a new investor the interest rates will be in 13s and its only interest only payment, but once you start gaining experience then the hard money lender will give you better terms assuming your previous projects were good projects.

@Chad Herring If you are lending under $100k, I am assuming it is just for the renovation funds, or for the down payment.….meaning it is likely that some Other lender has lent money for the purchase and possibly the renovation costs.

I have found a lender who will do a portfolio loan, partial release and no pre-payment penalty for both properties.

I also thought about a HELOC but i know if i use that as a down payment, that's another monthly payment I have on top of my first mortgage.

Terrible customer service and withholding payments for service.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Follow up question, would you suggest I try to get a business credit card on my own so I can get a down payment, I need around $40,000 

In non double close states, the investor knows what you're getting it for and what they're paying so don't be greedy. 

In turn we agreed to accepting deed in instead of payment.

Seeing how little of principal is paid off in the beginning of the loan cycle, my urge so far has been to throw what I have as extra payments chipping away at that mountain, but I’ve been also thinking lately if that’s a wise practice.