This creates a negative initial position.

:Quote from @Jimmy Lieu:Have tons of examples of deals that hit the 1% rule and positive cash flow.

I figured this could possibly put me in a good position for a cash-out refinance when I’m ready to move on to a second property.If I stick within my budget, Philadelphia seems to offer the most housing availability, but I’m concerned about most houses available being in rougher neighborhoods.

I’ve been in a similar position where I wanted to scale but equity was a limiting factor.

Udemy and Coursera have affordable options, and they could help you feel more confident when pitching yourself.It sounds like you’re in a great position to get started.

Bringing the seller in on the deal not only gives them an opportunity to benefit from the upside of the flip but also positions you as a problem-solver, which can build trust and goodwill.

However, when you don't know what you don't know, this is an incredibly dangerous and risky position to be in with such an expensive investment.Just my 2 cents.

Al, lenders want their position to be protected.Good luck

For someone in your position, focusing on rural properties like single-family homes and duplexes, here are a few types of lenders you might consider:Private Money Lenders (PMLs):Private lenders are often more flexible and open to smaller, long-term deals.

With the rental method- you need to ensure that the numbers make sense and that you will be bringing in positive cash flow.