I would use money from a HELOC that I have open to fund the down payment, but as @Scott Trench stated recently on the podcast, that is a short term solution, and I don't want to hold that $48k debt for more than a few months. 

Can the property be legally rented long term (over 30 days)?

We take pride in what we do, we love what we do and we our goal is to build a long term relationship with all of our owners and help them improve their investments.

Ideally completing light renovations like this shouldn't take long and you should  have a low holding cost on the hard money loan (if you used debt) and make a higher profit on the sale or have more flexibility on the payoff when you refinance  Plan on long-term and hold.

Make sure it explicitly explains the process for termination if you are unhappy with their services, especially if they violate the terms of your agreement.3.

What's not going to happen is your going to get good long term pm done for you in rough areas with no other incentives like they are making money more on project management of the renovations. 

We booked a couple people so far, with one person interested in creating a mid term lease.

@Stephen Hood your idea is solid and shows good potential, but here are a few things to consider:Private Lender Terms: Ensure the lender agrees to the 1% origination fee and $2K monthly payments—some may require a higher interest rate or balloon payment at the end.Timeline for Sale: Factor in potential delays with selling your current property or completing renovations on the new one, as these could impact your refinance timeline.Refinance Feasibility: Confirm with lenders that refinancing at $500K is realistic, especially after recent rate increases and appraisal expectations.Exit Plan: Have a backup plan in case the market shifts or repairs take longer than expected, such as extending the private loan or bridging with a HELOC.If you can lock in favorable private loan terms and stay realistic about costs and timelines, this could work well.

I’d also recommend starting with long-term rentals.

@Brenda Pursleyhi. welcome. happy to help.there isn't any cash flow right now in long term rentals due to interest rates being where they are.