Considering my first flip w/hard money. Do I I have enough cash.

[John Roorda]

So looking around at listings, it seems that there are a few fixer-uppers listed in nearby Hammond, IN under $50k.  Some pictures show more reno than I'm comfortable with, and some are on the worse side of town, but there are a few I'd consider.

I was thinking of trying to fix and flip, but as of right now I have about $8k cash that I can use for this.  I've read here about some hard money lenders that will lend 90% of the purchase price and 100% of the reno, but I'm also concerned about points.  What are the odds of a newbie with no flips under his belt getting points rolled into the loan?  Or getting 90%

Plan B may be to buy and hold a rental with a Homestyle renovation loan, build some equity, and try again later...