If not, ride out the 12 months with the hard money lender.People have to make good choices and not over extend themselves just for the sake of buying something they really can't afford or that doesn't make good cash flow.

One of my connections will fund the rehab for less and give it all to us on the upfront to finish the project at a lower cost.

@Michael Challenger I scraped all the cash I could find and borrowed from family.

We have done it both ways where we fund purchase and they cover rehab but if the individual is less experienced we do not do it that way, we have them put more money into the deal from the start and fund the draws, reason why is we also had a deal where the person said they would do this and never did anything and property sat and loan matured and it was a pain.Just recognize you will still not get 100% financing for the purchase, so you are putting money in up front. 

It's not for me and I'll have a decent amount of cash to work around from allow me not to do that but for most people it makes complete sense.

Most hard money lenders do not have prepayment penalties and most will be in the rate range of 10-13% with 2-4 points as upfront cost. 

It'll be hard to cash flow if you are living there that much, though cash flow isn't everything.

Purchase price: $274,900 Cash invested: $100,000 Brick ranch in Brookwood school district in Georgia.

I have not purchased property via their platform but I'd also note it's few and far between to try to find any deals that pencil in the current environment.  4-5 years ago one could find good cash flow with SFR properties.

With the exception of some small markets in the Southeast, places like Cleveland are the only major metro areas where a regular investor can find cash-flowing assets with a mix of appreciation.