I agree with @Connor Hibbs's comment on terms for first time flippers and if this is something you want to start doing more frequently I'd look for lenders that offer some type of rewards program to gain better terms through doing repeat business.

You are very brave for doing this, but it sounds like a rewarding adventure! 

It will have ups and downs, you will make mistakes, but I have found real estate investing to be a rewarding endeavor. 

I sacrifice today in order to reap the rewards in the future. 

My team is also well connected to this sector of the industry allowing us to be experts in Land listings as well as have access to numerous Off-Market Listings.

However as you correctly point out this is far more risky and or its risk capital compared to buying a income property.. but the reward can be strati-spherically higher .. not just a little bit but it can be life changing profits on some of these deals.

Its byproducts include over five churches and numerous community-building activities whose effects are still felt today.

There are just numerous variables and calculations you must analyze to check. 

Our portion out-of-pocket was the $3K deductible.I'm friends with numerous apartment owners. 

I don't understand how any think stating they were party to fraud somehow empowers them to a reward.