Some loan in their personal name.

Also, if you're looking to leverage a loan for your purchase, it is absolutely imperative that you use a local lender for oceanfront property. 

It captures monthly payments and the long term benefits of appreciation, loan paydown, and tax benefits. 

There are loans that allow you to use projected short term rental income to qualify as well.

I rent an apartment and I’m approved for 275k for an FHA loan.

As is normally the case, the construction period rate is adjustable and tied to the fed rate with a lower rate once the loan resets as a permanent loan.

After speaking with him I am a bit discouraged along with not being able to find a private investor, since hard money won't loan to this low of a purchase price and traditional is a no go.

I even created my first LLC to start the fix and flip business, funding it with enough skin in the game, elsewhere hoping to use OPM rather than my own capital to fund these projects as it has been difficult finding a lender who is comfortable with loaning to me solely without an LLC.My goal has always been to match my W2 income and eventually double it and more so I can work as a hobby rather than relying on it to live.

He is asking for a 25k down payment and then a 5% interest with a loan for 7 years.

Maybe I take out a full home equity loan and just buy another property to rent out/Airbnb.