So sweat equity is alive and well in Central CA. :)My experience dealing directly with resellers of bulk REOs ranged from idiotic to almost civil.

Sponsor absolutely used to be able to work with less - they used their sweat equity; today as prices have increased, hard money deposits are larger, and as there is more competition many sponsors are partnering.RULE 2: Don't buy a GYM membership if you don't use the GYM! 

(finding an under value home, sweat equity in a flip...etc)  as mentioned above, is this an investment or a job for you?  

... or you laugh your behind off regularly watching HGTV, especially when they run the numbers for the flipping show, and when they cut to the scene of the "flipper" host laying tile and it is readily apparent to an experienced eye that it was the first tile they ever laid, and cut to the next scene with a perfectly pressed and clean shirt with no sweat or grout, and then cut to the next scene when they went over budget and come up with the brilliant solution of "No problem, we'll just list it for more", and then they magically get that inflated price every time ... now that's entertainment!

Rehabvaluator CONSTANTLY brings NEW TOPICS and adds VALUE to what they offer to their members, day in and day out, I have NOT RECEIVED one email from BIGGER POCKETS in over 3 years, BIGGER POCKETS DOES NOT engage with its MEMBERS, I am a lost forgotten member with BP, but I sure feel like I work at REHABVALUATOR or DANIIL KLEYMAN'S OFFICE, Daniil has truly put his heart, tears and sweat and many long hours into making REHABVALUATOR AND RENTALVALUATOR what they are, I find it very distasteful to say the least for BIGGER POCKETS to even remotely COMPARE themselves to DANIIL KLEYMAN'S REHABVALUATOR!!!

Dealing with those that received lump sums from any source is an indication they lack the ability to save, the skin in the game carries less weight than if it had been saved over time, with the blood, sweat and tears.

I always think about the future potential of any property and won't sweat over a few thousand dollars if the numbers still make sense.

Few things, FHA will allow up to a total DTI of 50% including all debt including PITI, 203K loans are available and will finance the cost of improvements (usually contractor is required, no non contractor work allowed or sweat equity), only one FHA loan at a time (unless special circumstances like job relocation, deterioration of neighborhood, ect and you must move more than 100 miles from existing home with FHA loan), you must live in property for a 1 year period (some exceptions are made), you can own other properties and can purchase additional properties with "other" financing (conventional, private and hard money) but during that first year they must be investment properties.

no sweat, and I love getting called out so no harm regardless ;)I found a good contractor on my ~3rd deal, and once you find a good contractor you marry them.

Sweat equity is challenging as i already knew, and 20% down is going to be a struggle in my plans for growth.