I'd say you need your own funds.

What is the LTV and prepayment penalty?

Hi Wendy, For first time flippers you should be looking at about 75% of purchase + 100% of rehab funds.

Also, if you have cash to complete the purchase, you can get preapproved and then make an offer with proof of funds and without a financing contingency with a standard 30 days to close.

that was not a method that Armando taught in the seminars I attended these were strickly how to find BRRR props and rehab them and then resell or refi and keep.. the Markets we worked were Vegas and Orlando and Frankly those investors who actually bought property doubled their money or more with the deals i funded for them and they bought on their own it was 2011 to 2013 which as we know was a prime buying time and had to hand it to Armando he picked two of the best Markets.. 

Most focus on rate and amount of cash to close but bad loan administration or bad loan administration policies may cause the project to be far more capital intensive if viewed beyond day one of funding.

That will leave you with limited funds to actually purchase the house.

When I did my deals with them they only loaned on the asset and low LTV that is how you got such good rates..

You can do a trial and see if bank feeds connect, if it does, I would then recommend using it over QBO.One of my client that just started in development is short on funds so Xero was the only best option and they are using a local bank so we couldn't connect and a lot of manual entries. 

I think that equity gains in good areas tend to outstrip the value of cash flow in the long term but if you're pumping money into a rental property you're going to need a hell of a lot of equity to make up for not only the additional funds you put into it, but the opportunity costs lost in that money and the money that's in the property.