Should I use a hard money lenders or 203k loan? Please help!

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Hi everyone,

So this is my very first deal and I'm literally pulling my hair out.

It is a multifamily in a prime location near mass transit going for 145k. It just dropped on market and I really want to snatch this up ASAP. 

The only thing is that I'm really weary of hard money loans. Can anyone give me any advice on finding a good one or questions I should ask? My market is getting very hot and competitive, so cash deals are king around here. I have a high credit score and don't want to eliminate other ways of raising cash that may be less risky. Please help! In this situation, would you use a hard money lender and refinancing into a conventional after repairs? or is there other means of buying a property such as this? Any advice would help. 

HML if you need the speed and are willing to pay the higher rate/fees.

203k if you have all the time in the world. 

No law says you can't place two offers on the same property. The HML-backed offer should be way lower. Basically giving the seller a choice: "do you want top dollar, or do you want fastest close? I can do either and want the property, but if you want that fast close I need to buy it for less to make up for those fees and that rate."