@Max PetersonI think the 50% rule is a good tool for analysis, but it is a bit on the unrealistic side. 

.- Another book says set extraordinary, unrealistic goals, while another says you should be setting realistic goals that you can conquer but just focusing a little every day.- One book says you should devote your life to one thing at any given time in your life, whereas another says you should be constantly trying new things.Now, if you have read many of the hit books and the ones most recommended on BP, you can guess exactly which books which viewpoints came from.

Since I am just starting out flipping single family homes, I have no documented experience or homes as collateral so getting a giant amount of money is unrealistic.

To do that, you need to be looking at a viable, for sale, apartment complex, which meets your investment criteria, every day... a different complex, every day.You're also investing in the most competitive area, the small complexes where high net worth individuals can play for tax shelters.Goals are great but you also don't want to get laughed out of the room by your potential investors when they are unrealistic.  

This paints a very unrealistic picture for the potential investor.

- Depending on how early they are  approved, it may be unrealistic to collect deposit / 1st month's w/in 24 hours of acceptance.

Although I love your enthusiasm, getting those deep of discounts and selling at those ARV's seems unrealistic to me, but if you are doing it, my hat's off to you.

Here are some things to look for and avoid in a turn key company.Don't allow financing or a finance contingency (it can be a good indication they are selling above market value)Don't allow for your own independent property inspectionAre not realistic with their pro forma's (i.e. they don't include vacancy or maintenance projections or use unrealistically low vacancy factors)Require you to pay for any renovation upfrontSell only in cheap. low end neighborhoodsDon't accurately represent the neighborhood/property classificationDon't have consistent rehab standards for all propertiesDon't provide a scope of work for the propertyCan't provide references of repeat investorsRequire you to close before a tenant is in place

Everyone has seen them and the seller was totally unrealistic with the price.

I'm not unrealistic.