You found the opportunity, you can establish where your sweat equity is coming from (or capital if you have it), and then I would just try and learn from them throughout the process.You may give up some potential profit by partnering with someone, but having someone who can show you the ropes will help make the likelihood of success on that first deal much greater!

If you buy something that needs sweat equity or other work, and you're in a good sub-market in Denver, you could reasonably be at at 400 in 1 year (just for the purpose of this comparison). 

Obviously, if you have bad credit or a distressed property, Anchor Loans is for real but I was sweating bullets the hole time and will be refinancing this property back to a local lender and away from Anchor Loans when possible....

A roof would be 15 years.....do not sweat the small stuff and make too many sub accounts. 

Don't sweat it...just keep good logical records and track expenses appropriately because some income will be treated as SE (self employed) and the other as rental.

Be willing to put in sweat and money.

Invest close to where you live to learn the biz and use your sweat equity to save on maintenance costs.

But not much, and if those tenants don't pay, I could carry the mortgages to the conclusion without breaking sweat.

Get a 3/2 and get some friends to help you pay the mortgage- while you use your sweat to build up some equity.  

From my limited experience, I think flipping is highly risky and overrated and most likely then not, will result in loss and a considerable amount of stress, esp for a newbie investorFlipping can bring in some good money ONLY if you put in the sweat equity.