We were not educated in the work and financial planning for such an undertaking.

I’m not planning on staying in this home for more than 4 years and when I’m ready to move I’m either going to sell it or use it as a long term rental. 

with hard money you're going to pay interest on the loan, which can be pretty hefty, especially if the rehab goes longer than planned. 

I plan on transferring my properties under an LLC due to partnerships and etc

We were not educated in the work and financial planning for such an undertaking.

for a unique deal like this they might be more open, considering finding funding isn't as straight forward. just also be sure you have a backup plan for this property... what if they don't renew their lease at the end?

The Deal: - Need a growth story that is believable (value-add plan makes sense in context of asset and market.- Financial models need to  assume exit cap rates are the same or higher than purchase cap rates.- Comps support both acquisition and exit cap rate assumptions.

Originally, we planned for me to handle the down payment with my HELOC, and my partner would pay me 50% of the HELOC payment each month while getting his own mortgage for the rest (75% of the purchase price).But it turns out he couldn't snag a mortgage for the full amount.

We plan on building on the property in a couple of years but may go ahead and clear the trees soon.  

Alternatively you could possibly look into an SBA loan if you plan to owner occupy one of the properties (depending on your current role and whether its W2 or etc.)