So you use hard money or cash, fix it, resell it...and try to resale fast. 

If you find a Duplex or greater for under $250K and with rents common to the market at or above $1200 a door then you have some cash flow. 

Purchase price: $190,860 Cash invested: $198,000 I purchased a condo that had already been remodeled by another local flipper.

Purchase price: $550,000 Cash invested: $145,000 Sale price: $915,000 This was a home run for a long term (5 years) buy & hold investment property (I specialize in this area). - Initial investment of $145K (DP+closing)- It had one tenant for 5 years and 3 months (no turnover), and the tenant paid off the mortgage and expenses in those 5 years.- I spent around $30K to do upgrades before selling.- Sold it for $915K after 5.5 years (received $442K at the closing)- Did 1031 exchange and bought 8 SFH in NE & AL worth of 1.6M (brings $4k/months income now) What made you interested in investing in this type of deal?

Quote from @Scott Cash: I'm part of a three-member LLC that owns a $10M commercial property outright (each holding 33.3%).

@Rajesh Kasturi My favorite MTR market for cash flow AND appreciation is Portland, OR. 

@Shaun OrtizMy first deal 19 years ago started as kind of a mess, but I got it cash flowing after a few months.

Otherwise they would have sold, taken the tax free cash and moved on. 

Would it be possible to take my $100,000 liquid cash and their equity and go to a lender and get some sort of funding for the rehab?

@Jacob Glover seasoning period on a cash out refinance for a new construction property starts ticking from the time you took ownership of land with conventional financing, but requires 12 months seasoning.