@Seth Wyatt Great morning,Out of your two options, I think Option A would be best because you will need that cash to rehab the property or unforeseen expenses that may arise after you purchase the property or for taxes, insurance, and utilities.

At the end of the day, it can still be a little bit of a gamble and unforeseen circumstances can arise.

I would start off closer to the middle of your budget just in case there are any unforeseen costs you could have missed and to account for any issues that might arise during the process.

Aside from my terrible timeline estimation and one unforeseen new driveway installation, everything else went according to plan.

Were there anything unforeseen that happened?

BUT, there will inevitably something unforeseen that pops up.

Due to unforeseen medical issues, both homes need to be sold as-is and fairly quickly. 

Another unit we found mold underneath the house that had to mitigated to the tune of several thousand.As we kept digging in, nearly every unit had something unforeseen come up.

You are right I dont think I would ever agree to a %25 profit split as a rehabber unless the potential profit was very large considering that your profit on a smaller deal could easily be eaten up by unforeseen surprise fixes.

That would be pretty thin if you have high financing costs or anything unforeseen comes up during the project.Long story short, you can find the financing you are looking for if you make enough phone calls.