I like it, so much I'm doing almost exactly that with a partner. 

Hi, I am on my first flip, live in WA state found a partner in Ohaio, the rehab is in OH.

You have to somewhat know someone in the fund or one of the partners to get more info about it

If you can show that the numbers work, you can get 100% of the purchase and rehab covered.The key is finding lenders who work with new investors.2.Partnering with Experienced Investors– If you don’t have capital, you can offer your time, effort, and hustle in exchange for a piece of the deal.

Also, looking for an agent who is looking to partner up on said deals.  

you know a singing partner /  financial net worth partner ??

We are always look to help investors and potentially partner on some flips.Wow small world.

@Jonathan SmallHmm, shouldn't your partners worry about their taxes and not you?

only one avenue to this and that is an equity partner that shares your dream. 

If you need more to do the rehab, perhaps instead of partnering, you could get your former boss to do a personal loan.