And that means either door knocking or cold calling.

Hello,please, dont go flipping anything from hard money at this time. try door knocking, calling on craigslist, zillow etc to find wholesale dealssave up money then partner with an experienced flipper/rehabber on your first flip.until then, join local groups, meet 5 ppl a day in RE, build a network, provide value to them by supplying leads to them..via wholesale or even referral understand online marketing as well...thats the future, under how technology can be l leveraged in RE.so, you need to MARKET, NETWORK, & AUTOMATEfor now, start with marketing. kill it!!!

@Jeff Sommer Take it very slow and learn as much as you can before jumping in as the school of hard knocks isn't easy. 

After you knock that off then the 10% distribution would be more than fair.

If the WH and furnace are running it is hard to ask the seller to knock off money for those. 

As they say, you have figure out your strategy to get around obstacles and have to keep knocking on doors until you find the one that will open for you. 

I do like how conservative your numbers are for maintenance/PM/vacancy/etc, but IMO you could probably knock those back from 10% to 8 or even 5% and still be in good shape. 

Go knock on the door and ask the owner if they would consider selling.

Knock on the door of the property and ask.

Learn how to do yellow letters, door knock, call for rent listings and ask if they have properties they want to sell, etc.