Losing money is not fun and it sounds like you have to go get it situated before you keep bleeding money and not knowing where your money is going

I’ve searched through most hard money lenders and they are all around the 75% or so. 

You can learn from books, talks, online lessons, meeting people, getting your money ready, looking into things, types of houses, help from someone who knows, and lessons from pros.

If not, why not just give a sizeable EMD (earnest money deposit) into escrow and close on it in 120-150 days.

It also takes experience in the asset class that you're raising money on.

She should.Then you could 1099 her and not worry about payroll taxes - for agent-type services.For the maintenance work she does, also 1099 her by having her bid each job separately.Of course, speak to your tax professional about all this first, to make sure this would all meet IRS self-employment requirements.

It will be done correctly every month and during tax time, you and your partners can easily have to CPA/book keeper issue 1099's and get your taxes filed on time with all the right deductions.

If people are getting free electricity and water, they tend to be a little less frugal :) .Then check on insurance costs for a MFH and add that to your projections.Finally, talk to your contractors and see what requires permits, what their experience has been in getting them to pass inspections, the timeline and the cost.Factor all of these into the decision to move forward or leave as is - maybe advertise it as a 4/1 with a home office with outside access and get more rent that way.One last point - I hope that the addition you mentioned was done with permits and is reflected on the tax rolls because if not, you may open a can of worms you wish you had not.

Hard money lenders?

Using other people's money (OPM) in real estate allows you to leverage your investments, significantly increasing your purchasing power and potential returns.