Not sure if this is any valid thought but in Florida nowadays we mostly use "As Is" contracts on sales.

@Jessica SorensenWhile Sacramento may not be the hottest vacation rental market, the Convention Center seems to be always buzzing.  

However, there are many smaller size lenders willing to lend up to 10 conventional loans, just need to keep searching and calling all different smaller banks, but be careful there are a lot of scam nowadays, just do your diligence.

., is that nowadays most companies are lending in the 60-70% range with in between 6-8% interest rates.

Now adays if they do not have a good business  model it will come out in some social media format.

The hot buzz word seems to be portfolio lenders but is seems to be a clunky process with a heavy pre-payment penalties The secured business line of credit seems to work like a consumer HELOC and to me would seem to be a better way to acquire funds.Flipping properties with short term loans of a year or less should be less expensive then portfolio  or hard money loansWhat are the pros or cons or these methods or what other types of short term loans would be good for flips ? 

Of course granite is the buzz word and has been for a while,.

There's a lot of buzz about properties that were bought in Brush Park and other areas like West Village that have had some unbelievable returns in the past decade.The local guys that have built some pretty tremendous returns in Detroit are doing turnkey flipping.

Prior to June 2013 this may have been the case, nowadays the number I hear from my lender is 11 years of PMI if you put 10% down when you purchased, otherwise the PMI will stick with the loan until it is paid off (refinance or paid full).

It's hard to pass up what seems to be a good deal but you are very right with all you've said....All this "no money down" and "use OPM" buzz in the industry is too good to be true and there is indeed risk; and for every deal we've needed to acquire debt and put in a big chunk of money... nothing in life is free.