Another suggestion, and this was how I did it was I used my day job to build up a bank roll to buy rentals.

It was several months in, until we really had a closer number of everyone’s estimates along with the contingency the bank rolls in.

We ended up getting part of the money gifted to us before closing, we told the bank this and before we closed they essentially gave us a number of what had to be in the account for us to close.With the extent of work required the bank rolled 6months of mortgage payments into the loan.

Nevertheless, if you have a big enough pot that you can minimize the amount of cash laying around as a percentage of your total bankroll, you should be able to manage an overall 12%.

You'll have a very difficult time getting started without solid W2 income unless you know someone who will bank roll you, or you have some set of talents that'll make you an attractive partner. 

Should I wait till I have a bigger bankroll or should I try to find deals now?

Well, if you need more capital, $30k can be a solid down-payment for a hard-money loan to flip a property and build your bankroll to a higher level.

do this enough and you can bankroll enough to get through a rehab on another find. 

He apparently wants his 2 sons to get involved (aka bankrolled) in REI. 

Or you can use your significant amount of money to bank roll other flipper.