I can see the OP giving this a shot.. but it is risky he could end up making a few bucks and getting experience might just break even or he could take a loss.. that margin is very thin in markets that are not selling as soon as you get CO  thats been one reason we have been profitable very few homes have been carried past CO so financing cost are at a minimum.. you hold a spec home 6 months past Co and every month your losing money you will not recover.

As a beginner investor based in the Seattle metro area, I'm eager to learn from your experiences and share my journey as I get started in this field.My current strategy is to focus on live-and-flip for the first three deals (looking for my second deal) to gain hands-on experience while building equity and learning the ins and outs of renovation and the local market. 

However, after you get some experience, you probably want to get a Private Lender since this will allow you to keep the majority of the profits.

Quote from @Drew Mullin: I have some experience in the south Florida area.

Also, running a flip with no money and hoping you get a good return with all the other stuff going on in the background starts to add stress, and you end up not enjoying it.

If so how was your experience?

Hey William, what about adding another partner that has experience doing larger deals? 

Do you have experience at new construction or rehabbing?

I enjoy helping investors and other BP members avoid this very thing you just suffered. 

Thank you for taking the time to share your valuable knowledge and experience