-ARV - 500k-Purchase Price - 400k (needs full renovation set 50k) - Down Payment - 20%-1st Hard Money Loan - 250k interest only 3 year term -2nd - Hard Money Loan - 70k interest only (interest accrues to earlier of end of term/sale/refinance) -Rate TBD but assume around 10%Investor would get a discount on ARV and be cash flow positive during the holding period.

Can’t be more than four units because I will be purchasing via a VA loan.

Has anyone referred to the terms of the lease?

You will still own that loan and personally guaranty that loan.

There are lenders doing loans outside of Fannie and Freddie. 

Hello-New to hard money but not to rentals, I own 5 doors that I have funded myself but want to keep some reserves so looking into hard money for my next deal and will refinance into a conventional loan to keep the property.Are these typical hard money terms or is this too much?

My goal is long term.

I graduated college last year and I'm starting to build my career toolkit (while paying down just shy of $15K in student loans).

If you have a loan, you may wish to look into due-on-transfer clauses.

The west coast markets have traditionally been appreciation markets, and if you are not forced to sell and can hold long term, risk diminishes.