Option Fee, Security Deposit, etc) can you do it with no money out of pocket?

@Meghan BegueWelcome to Bigger Pockets.

Quote from @Michael Belz: Now, I have two options: I could fix and flip it with an estimated $200K rehab for an ARV (After Repair Value) of $825K, having purchased it for $465K. 

Looking at online real estate licensing courses, anything out there with continued education options that does a good job of covering creative financing?

Rosette welcome to Bigger Pockets!!

Financing options include cross-collateralization, cash-out refinance, and DSCR loans.Good luck!

I do not think options 1 and 2 are mutually exclusive, in fact I think you should do both. 

But when you can qualify and deal with the process before then - usually worth it to do bank options like this until you hit the scaling point (could be 3 rentals could be 5, could be 10 etc - no real "hard and fast rule") 

I think with your faith-based parameters, turnkey would be the safest option as long as paying for property management is ok.

There are many options for skip tracing, most just send a query to a single database while others hand-scrub the lists for the results.