If they are low balls then usually you are asking someone to work for free as the fix and flip landscape is competitive for a low pay out.

Low or no down, seller financing and low or no interest with a balloon payment later is the holy grail (location, building condition, market also matter but it sounds like you have all that).

If the applicant comes from the pool of people that I or my tenants know, I use real estate as a way to give back as many of my tenants will not qualify credit wise or may even have a criminal background or would struggle for another reason if I were to just stick to the "background/credit check" criteria. 

., but there’s some good news for renters: local rents have dropped to a 3-year low, with decreases of up to $200.

Ask for a line of credit.  

• Is this a better strategy than using your own name, capital and credit to start out?

Those that preach no/low down payments are mostly just trying to appeal to the masses who want everything for nothing that will buy their courses.

R5 is a little confusing to me - "intended for low-medium density single-family detached residential development at an urban density of 5 dwelling units per acre".

I felt that my investments in the area were so low that any loss in basis wouldn't hurt me too much. 

Those holiday numbers are a bit low, those daily numbers are a bit high.