Or should I get started with a large bank initially?

@Greg Callan I wouldn't get to caught up on cap rates for 1-4 units, it's just a bad sign for me when you're proforma cap rate is 4.5% and you're borrowing money from the bank at 4.75%.

It was a bank sale and I was in the right place at the right time.

Property Preservation Companies - these are companies which secure preforeclosure/foreclosed properties for banks.

Now, I would base my returns on $75,000 down payment ($55,000 to the bank and $20,000 in deferred maintenance).

It may depend on your jurisdiction and what you defined in the rental agreement.

@Chanoch Moller, Finding financing independent of banks or different lenders is very difficult to accomplish.

one option is try to wire the money from bank to bank, something like this happened to me but I paid everything to escrow and they paid my collector. most of the collecto information addresses and phone number should be on your credit report.

About a third are paid off and my reserves and bank accounts allow me to loan some money without jeopardizing my business.I am a leading member of my local REIA and have met with someone from the group who has flipped abut 6-7 houses and is interested in working with me on her next flip. 

The online sales across the USA of bank-owned properties allow a window before closing that hard money (and private $) lenders need - often times you pay 5% of the winning online bid and your closing 30+ days later works for the requirements of the lenders.