Low cost, possibly yes, but also possibly very time consuming and that has a cost.  

@Cameron Porter ultimately the most important part is the ARV, inclusive of the expected rehab costs.

Definitely consult an NC RE Attorney!

Multiple people including myself have tried to caution him of the the true costs but he's been repeatedly dismissive and has made it clear we give him motivation and he wants to prove us all wrong (whatever that means). 

Also these things cost money to sell - agent fees (5-6%), whatever your buyer is going to ask for at closing or try to hit you at during inspections (likely several thousand) plus taxes.

Our goal is to be able to use either some type of software or spreadsheets to continue to build off of and help dial in our costs as we begin to hire more contractors for our team.

The cons, if the borrower doesn't pay on time or completely welshes on it then there's that oportunity cost. 

It is always valuable to be able to walk into a property an analyze cost to repair, it is a huge factor in determining the feasability.

Feel free to reach out and if not then good look furthermore

Works best if you trust the flipper.Wrap + Second Position Combo: This is a cool little move—you work out a wrap-around mortgage with the seller, then assign that contract to your borrower, and still lend in a second position for repairs or closing costs.