Purchase price will be between $50-75k.Question: What do people recommend - hard money lender or traditional mortgage?

Purpose of financing: purchaseType of financing sought: first looked/ing for traditional loan/mortgage but not having luck.

Purpose of financing: purchaseType of financing sought: first looked/ing for traditional loan/mortgage but not having luck.

But once its rehabbed and the rents are at or above market rate, then a Traditional bank comes into play, but so does your DTI and various other factors.

We will be putting 20% down on a traditional 30 year loan.

This would mitigate some risks (loans getting called, etc.) but would introduce new ones (houses leveraged to 60-80% aren't the best targets for lawsuits, the bank/creditor will get paid first before some frivolous lawsuit judgement from what I understand, so paid off houses are a rich target).

They fix it up and instead of flipping they refinance into a traditional 30 year mortgage. 

I'm in diapers at this point, I know NOTHING about real estate except things that Robert Kiyosaki said on youtube (and read Rich Dad Poor Dad), Brandon's recent webinar and I'm currently reading Brandon's Rental Property book. 

@Rich Ganim I agree!

Prefab homes (not mobile homes) are usually built to the same standard as traditional homes, they are just built offsite and assembled onsite.