With current interest rates below 6% using a hard money lender is going to cost you big time! Not only are the upfront points a killer but the interest rate is more than twice the current interest rates. Is the only reason you are looking at a hard money lender is because you are worried about meeting the auction demands for a quick closing?

Hopefully you have done your research on the true income from the rental properties and reviewed the current leases. If the property is in foreclosure all of the security deposits that needed to be returned when the tenants move are your responsibility since that money disappeared with the foreclosure. Just a few of the things to consider on top of the cost of the hard money.

Try http://www.edclender.com they do residential and commercial hard money.