Help me find a solution or give opinions :)

[Andrew Urban]

Hello,
I have been a member for a while and have read a number of post which some what relate to my situation, but I wanted to ask for some more advice. I looking to purchase a single family, un-owner occupied, to rehab and flip. I have some funding but will need more in order to secure and flip the property. Here are the details:

House list price: $49,900
Estimated value from Zillow: $160K
Similar homes in the area have sold for $90K- $130K in the last 90 days
Rehab cost: $15K-K20K max
Good thing about area is its in a "revitalization" area which means there are LOTS of first time home buyer intensives from the town and state not to mention the government ones.

I currently own two rental properties which I have owned for around 2yrs each. I still owe to much on the principle to take out any lines of equity so that is out of the question. I have around $10K in the bank I can use along with the two house for collateral and experience.

What is the best way to fund a project like this? Does this project seam like a good deal for those of you reading it? What is the biggest difference between a private money lender and a hard money lender? Would it help to have an end buyer? Also should I have a contractor ready to go one the project with an estimate? Any help you could shed on this project would be much appreciated. Thank you in advance.

Andrew
:help: