You could also just use the money on a deal by deal basis if you are doing A to B to C wholesaling, so as you find a deal to wholesale the lender steps in and loans the money to get you to closing on the A to B transaction, and bridges you to the C sale.

There are very few (if any) hard money or bridge lenders who would fund this with only 12% down and no reserves. 

Southwest Angel Network (SWAN) led by Bob Bridge in my neck of the woods is an example of this. 

As for assigning the rent-to-own contract, you need to read the contract and see if it's possible.If you can get a double closing done, or be a HML for the current renters to bridge the closing, it should be fine.Good luck!

Hi Kevin,I just moved to Salem from Quincy because I have been in love with the city for years and I found an excellent deal on Bridge st! 

But no hard money / bridge loan required for this project. 

With that, their current terms are 2-3% in points, 60-75% LTV and 10.5-12% on the rate for a 12 month bridge loan. 

The alternative is a bridge loan of 12-24 months where you make monthly interest only payments.

You'd be better off finding private money or a bridge/construction loan, if not cash.  

Hey @Dave MegowenFix and flips usually work out better with a bridge loan and not a conventional loan.