IME: Interest rates matter. The lower the better. I think 12% APR is high. There are loans for less. "Interest rate arbitrage."

If the loan is 12% APR (1%/month), then the proceeds need to be 2x or more. There are places where you can get loaner loan rates for like 4.5-5% ARP (0.375%/month).

Having an "exit" strategy helps just incase the deal goes south, too.