My parents retired there (got tired of the cold) so I want to have some skin in the game in the Bend / Redmond area so I am more likely to visit them.I'd just like to make some more contacts down that way.Cheers!

No, where is your skin in the game?

If you can prove you are getting a "deal" and have some "skin in the game" of your own, this would help. 

(A FHA 203K loan won't be an option since you don't plan to live in the house and just want to flip it.)From the sounds of it though, your options are probably limited to a private loan (from someone you personally know - like a friend or family member), a hard money loan (they'll likely still want you to have some skin in the game though), and/or partnering up with someone who can fund the project (since it sounds like you can provide the experience).Best of luck to you!

The seller sounds flexible, so I would either come up with some skin or wholesale the opportunity.  

Using your own cash to fund the gap (hence the phrase "Gap Funding") will show you have some "skin in the game" and make lenders more comfortable when deciding to work with you. 

@Chris Bork - While HML will lend on acquisition and rehab costs, they will usually require you to have skin in the game.  

That may mean a full price offer and enough to cover costs. really your chance is much better with 10% down, most Realtors will buy that as skin in the game.Sometimes you can back into the deal with payments at about 75% of what their rents were, rented at $600, take out taxes and insurance, say they netted $450, your payment could be $337.50.  

Maybe they'll share their secrets on teeth whitening or skin blemish removal.

They will want more than $10K skin in the game.