Quote from @Zach Engen: The federal savings bank does 5% down on vacation homes, talk to Jason Wray over there.Email? 

There is really no data on this so most of the numbers are just proposed.

On market & negotiated price based on condition How did you finance this deal?

But @Wesley Wilk if you havn't done this type of rehab and you are not a real estate investor (so this is your first go) then I would not take something like this on.You'll need to learn real estate investing first, then embark on strategies.Ironically, I called myself a real estate investor for a year before I bought a property.

There is a great group of members on here to connect with.

@Dorian Gray - I think part of the answer to your question depends on the likelihood of needing more funding in the future and if you have another plan to slowly build up reserve funding.

The advantage of a partner is providing something that one could not get on his/her own.

I suppose I am grateful that there even was money to leave in the deal and that I have flexibility on what my next step is. 

There should be cash flow on day one.  

Cash deal, Agent on buyers side.