She is going to look into an agent and someone to help with the loan.  

I have now secured funding as well as contractors that are ready to scale with me.

I have a hard money loan through a family member and that is included in that 700k. 

Whichever strategy that you choose, run your numbers, and definitely consider all the other benefits of owning real estate i.e. appreciation, loan pay-down, potential housing expense decrease and/or cash flow. 

I find that a lot of my bookkeeping clients do not save money for taxes, repair or event those security deposits. 

Im looking at 7% however I think a better safe guard for me to have enough skin in the game is to move the sales price higher just in case he decides to pay off the loan earlier.

are you planning on keeping the private money loan for the long haul or are you going to refinance once rehabbed/rented?

As long as you are fiscally secure enough to make that higher payment no matter what, when a 15 is paid off, a 30 still has like 70% left to go. 

The refinance will get our down payment back, along with the current mortgage and renovation loan paid off.

@Beth Anderson, You can use a FHA 203k loan to wrap renovations into the loan.