A very important note to your getting started phase - No real investors want to "to grab a coffee or hop on a call" without getting to know a little about you and knowing if you have something to offer them.

When you purchase the appliances make sure it includes them putting the new ones in so you don't have to to the heavy lifting and then labor is included in that.  

I've already used to to rehab a couple rentals and then did a cash out refinance and paid off the heloc.  

If you would like to to go over in more detail how this loan works I'm happy to connect. 

Has anyone used this method to to sell the house at profit? 

No, I don't know how long it will take, but I will do whatever I need to to make it happen within a year.  

Come out to the local meetups and see what other folks are up to.

Your only chance there is to speak to the owner directly to see if they can assign the mortgage or you can take over subject-to to avoid them getting the foreclosure on their record for 10 years. or just send a check to the bank for the balance due, I'm sure they wont mind this at all lol

For flipping properties, it is best to to be taxed as an S Corp.

A commercial lender should allow it, leaving you with only 15% to put down.Our experience has been that the "elderly landlords" tend to be more willing to to a vendor carry (partial or full).