Tolerance for value-add?

Quote from @Caleb Brown: I would focus on being an agent first and building that business.

Also, I'd add that any second position debt, preferred equity, or their brother's, sister's or cousins in any shape or form are at #2 on this list, in really any asset class. 

Personal money How did you add value to the deal?

I have been on BP for a while but my profile is prompting me to do an intro.

Hey, congrats on your business success!

Quote from @Gregory Wilson: A few things there, Brendan.First, an LLC with you as a member and your (wife, son, pal, etc.) partner as a 1% member will file a Form 1065 which is about one tenth as likely to be audited by the IRS as a Form 1040 with a Schedule E rental activity (which I presume you will attempt to show is an active business).Second, you want an LLC because when your local Alabama handyman drives his girlfriend's uninsured truck into a van load of U of A medical school interns on I-22 when he goes  to get some shingles for your roof, on your business, you don't lose everything you have or ever will have to an uninsured claim. 

Cash How did you add value to the deal?

Since you have capital,  focus on the market fundamentals and quality of the real estate.

If the house is listed on the MLS and everyone else has passed on it, then you didn't "find" it.