I just bought it in the fall and am trying to complete a bunch of modifications during off-season (e.g. metal roof, certain safety features, treating the deck, possibly updating the fire pit area, etc). 

Are pit bulls even allowed in your area?

String Light and Fire Pit ShotWhy it works: Creates a cozy, inviting vibe.How to nail it: Shoot during twilight with props like chairs, blankets, or a fire roaring.Example: This listing5.

The benefits to the seller including dumping a money pit that no one can get financing on, dumping a property that has a nasty lien or judgment against it, selling for more than the property is worth, dumping a property that is contested in probate, things like that.

“I guess I missed my chance looking for a private money lender because a hard money lender was interested in my deal.”I don’t understand this—what does one have to do with the other?

(saving the money to have your own deal is the worst idea)

Does Hard Money typically cost 30-40% of the purchase price?? 

I suggest you enter private money goldmine in search botton at top right of the screen and read the previous posts....here is one that gives good perspective as well as a link to legitimate private lenders.http://www.biggerpockets.com/forums/92/topics/1488...

Also, I’m pretty new to this but I’m assuming you’d have to have an LLC in place to accept hard money or money from private lenders? 

I've never had to use hard money before, so I am not sure what type of conditions are reasonable.