You will really have to work to find one that makes sense, particularly just a cosmetic rehab.The flips I'm seeing that are most workable are ones where you have a very large rehab budget....there is a lot of activity in Indy near my home....but we're talking old homes that are taken down to the studs, additions, floor plan changes....practically new homes being built.

That said, the hard money loan is workable and one of the best ways to do some of the work yourself. 

You might find that you can go under 40% equity and it's still a workable deal as well.

So I'm starting to research surrounding areas to figure out which regions are workable.

Month to month lets you move to place you like better if you find one.In the mean time register for Section 8 and see where that leads to.Then maybe once you have a shower and bed, go look for a Temp Job at a Temp service and start earning some money and increase the quality of your life.I see that as a workable strategy for you.

Ask about the brokerage's commission splits, training and workable leads, if you have trouble harvesting your own.  

Its workable and do-able.

In most cased the short sale is more workable for end profit than an REO.I personally have had a lot of success with this as an investor.In most cases the REO's are a nightmare and don't leave much room for profit in a rehab and resale.

You and you're husband seem to have a workable plan.

But could be workable if rent was $1900/month.