I would check with your account to make sure doing this will be profitable for you and your situation.

Like to learn about long term rental

There are also 'mezz' lenders (typically for larger transactions) who will cover up to 90% CLTV and require you to bring the remaining equity to the deal, and additionally there is Gap Funding in the form of unsecured personal debt.The latter can potentially be the most expensive option, but allows for true 100% financing as there are no restrictions for how to use these funds, as they are unsecured, and generally obtained through personal credit, income etc (since there is no collateral for obtaining these funds).

In this market, I would not finance a first time flipper at 75% profit split because the profits and success rate is lower than the last dozen years.  

Be sure to factor in repair costs to keep things profitable.

What you'll find is that the better sponsors are likely to have a lower return to LPs because they present less risk and are rightfully keeping more of the profits for themselves. 

I guess my main question is is there any minor profit in being part time if the work is put in.

So we shall elucidate five myths and truths about investing in them.Myth 1: Distressed Properties Are Always Money PitsMost people think that distressed properties require major renovations, which wipe out profit returns.

After two years your only profit will be the education you gained. 

and CA will want you to pay tax on the profit associated with the time the predecessor property was in CA.