Andy V. I would agree with what the folks before me said but I'll try to add what I think you should do. As you know in order to get lending from a bank or hard money you will need some sort of track record or experience. Having said that its best to start the first few deals with either private money or an equity partner with whom you could discuss your business model and what kind of ROI they can get from investing with you, even before you have a deal. You just have a plan of what criteria you're looking to get into (location, price range, how much rehab needed etc) and what profit margin is considered ok by you.
At the same time as you're talking to your potential partners you should be talking to several RE brokers and ask them to show you available deals that fit your appetite. As you're looking and analyzing several deals you will become better at identifying a good deal vs a bad deal. As soon as you find a deal that you feel there is room for you and your partner to make a decent profit show the deal to your (potential) partner.
By now you should have a list of reliable contractors. You gotta be able to tell your potential partner "listen bro, if you agree to invest with me, x is what you will invest. X is what I will be contributing to the deal. I have several reliable contractors whom I'll be getting bids from. It should take x amount of time. You will be making x amour which is an annualized return of x! Now this is an amazing deal! Are you in?"
In short you should be working smart on several fronts at the same time. Look for good brokers. Look at deals. Talk with money investors. Find contractors. You gotta inch in from each angle until you hit the target head on.
Good luck!
