135k Triplex / 1900 month in rent

[Shawn Scheinoha]

I got an offer accepted on a triplex yesterday that was accepted. 

Sales Price - $117k
Rehab 18k
Two of the 3 units are rented
One unit is vacant and needs all the usual.  Paint, floors, fixtures, appliances etc.
These are all 3 separate small houses. 
Already approved to build one more house or mobile home.
15 minutes from a university.  We have s shortage of rentals in the area.

Onto my question.  
I have always paid for my deals out of my own credit lines but they are tied up in a few deals that have not closed yet.  I would like to get investor financing on this for a year so I can get some seasoning on it and then refi into a conventional loan.

I have the money for the rehab so I'm going to need 117k to pay for the property.

What rate should I expect to pay an investor for a 12 to 18 month loan?  

I have someone that is considering the deal bit no rate has been discussed.

The cash flow is strong so I can afford to pay a higher rate for now but what might that be?

Assume all my finances and credit are strong.

I'm sure this will not be the last time this happens.

Thanks in advance!

[Brent Coombs]

Wow! 100% financing at just 6.5%? You'd better treat them nice...