One thing I should tell you is you won't get rich today or tomorrow regardless of what you do. 

All I am buying a house with the strategy to resell it to the current tenants... Seller needs immediate money, so I am buying it cash for 100... Retail value 140.

I understand that tenant could not buy it right away ...

Has anyone tried Larry Guile's "Filthy Rich" program and had any success?

mother-in-law, mother-daughter, jack-and-jill, 'Summer Kitchen' and/or maid's quarters yada yada  - as many mansions and other estates traditionally do -  if its a SFD that means per code/ordinances etc u cant rent separate tent dwelling/apartments within it - only maybe a room or so.thats why instead, large SFDs with a duplex layout (or maybe even a 'back house') to spare will 'rent out a room' to avoid grossly breaking zoning and C of O rules for a single fam dwelling. of course that means either the kitchen is inherently shared or one of the persons (ie, a college student, or a raw vegan) simply does not need access to a traditional kitchen whatsoever.

@Lauren Heart, I am currently reading "Rich Dad, Poor Dad," and have several more books queued up in my Kindle!

Individual #1: Taking out traditional mortgage with 10% down to purchase propertyIndividual #2: Managing restoration and sale, taking share of profitsThey need money for the restoration budget, estimated at $40K.

Are you looking at traditional bank financing?  

I currently have some money in an old 401K and a traditional IRA that I would like to roll over into a SDIRA.

Rich Dad Poor DadRich Dads Cash Flow QuadrantRich Dads Increase your financial IQThe Real Book of Real EstateThe ABC’s of RE InvestingThe ABC’s of PMRich Dad RE Tax AdvantagesThe 10X RuleThe E-MythThe 4 Hour Work WeekBiggerPocketsPodCast -I hear #136 is exceptional!

If you want to be a traditional agent and sell to homeowners then Long and Foster will have lots of training and support.