Suggesting to them buying their house for a wholesale range offer or lower dependent on the extent of the rehab, then having a contract in place that gives them a percentage of the profit to help get them back on their feet, paying off debts etc.

.: Quote from @Jay Hinrichs: when I was buying notes I did not even run credit.. but I only paid 10 to 20 cents on the dollar.  

Jimmy  - Thank you for the input, definitely buy and hold.

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BiggerPockets also has a calculator to analyze deals, and I highly recommend you start this as soon as possible, even if you are not ready to buy.

You are missing my point on taxes.Scenario 1:  Your partner buys the house at the same time you put your cash in.  

Then you'll need to find land, acquire it, find a spec home buyer and set up meetings to design plans or buy a set online with mods.

You need to be careful about where you're buying and what your expectations are.

@Jay Fayz for SFR (1-4 family) Classifications are mostly opinion-based.Not aware of anyone tracking eviction rates, except Evictions Lab nonprofit that doesn't like landlords.Here's some info that might helpt:---------------------------------------------------------------------------------------------------Recommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I am more inclined to buy new kitchen appliances because of #4, but would not have an issue using nice looking used kitchen appliances.