I hear the podcast hosts aim for at least $100 cash flow per deal...does seem razor thin though.

Personally, I would max out your 10 conforming residential mortgage slots first ... tough to beat 30 year fixed residential mortgage terms.

There are sharks that sim in those waters and you could easily get fatally bit.With that said, working with a good title company to run title checks for lien positions would be key.

HML = loan sharks.

I have my own list of properties that are a great rate of return on investment that I'm saving for myself if I ever get an Angel Investor or loan...I feel like going to a loan shark (lol would never do...I like my arms and legs!) 

If i like thier answers then i schedule to show them the property in the evening or weekend. always schedule multiple people to see in the time slot.

I'm basing this entirely off of yours:Purchase price of $115K + $10,000 closing costs + $2,000/mo holding costs (if financing with HML includes taxes, insurance, loan costs) + $40,000 rehab budget = $175,000 investedAt $187,000 ARV, your profit margin is razor thin at only $12,000 and that's assuming your HML will even finance something with that low profit. 

It seems to me like if there is a way to structure the deal 50/50 then it makes a lot of things easier, but also takes away your majority ownership.As for the amount of cash for the amount of equity, I am thinking of the scenes on the tv show Shark Tank where the "Sharks" ask the entrepreneur how much they want and all do the quick math to determine what the entrepreneur has valued their business at.

Most of these people are in a tough stretch and just need to get out; occasionally it's the family of a relative who has passed away.You can chase auction leads too, but I find that there are a lot of sharks in those waters.

Watch for sharks in these waters.