This would be the safest money but probably the costliest.Don't build a house of cards, Tyler.

And I literally started with no money and borrowed the down payment. 

@Sarah Hadassah Negrón so you get a money judgment.Now you have to turn that into a garnishment action with the courts.To do that, you typcially need to have the tenant personally served - which means finding them or hiring a skip-tracer to do so.Then, what are you going to garnish?

Over three decades, I've not seen a ton of situations where no money down/100% leverage has worked well. 

What if the deal loses money?

I ran into these gugys personally coming out of the GFC were money was really tough to raise..

Looking for Hard Money Lender for $50K or Less – 10-30 Year Mortgage?

I can either purchase the land for 150K+ rehab cost with hard money lender.Or pay what they owe (50K) and get a construction loan and pay them after I refinanced the ARV.

thats basic list one can add.Value add /  New construction / land entitlements/ Timber / Minerals/ Lendingetc etc.. far more ways to actually make money than just buy and wait for rental income to payoff debtl 

The one thing I am unsure about is how earnest money works when you have yet to find a willing buyer to assign the contract to?