Can anyone survive paying 32% of ARV plus 10% in selling costs.

Then, put a plan together of how you can learn, connect with others in this niche and ultimately find the best folks in that niche.  

I specialize in assisting first-time home buyers to achieve their ultimate dream, as well as supporting real estate investors in understanding their markets to capture their highest rate of return on their investments.

I know this property will cash flow very well, and ultimately I would like to hold this property in my portfolio. 

BP is the ultimate game-changer when it comes to successful real estate investing.

Check out the Ultimate Beginner's Guide to Real Estate Investing:http://www.biggerpockets.com/ultimatebeginnersguide.pdf 

From what I've experienced, this route will not work but ultimately is dependent on the lender's terms of the deal

But, assuming the business model isn't inherently flawed, with the right amount of hard work, knowledge and working capital, you should be able to survive and even thrive.  

I'm looking to get into this for the cash flow in the short term, with the goal to be able to help put my kids through college, and ultimately be able to enjoy life as my family matures.I'm in the Michigan / Metro Detroit area, but am also looking at long distance investing as an option. 

BiggerPockets is the ultimate game-changer when it comes to successful real estate investing.