I'll need financing at some point, but most of the properties are under 100k, so getting 20% down wont be too bad.

Then you have shown that there is no neglect on your part and those cases against you should not succeed.Should not succeed does not mean that they wont succeed and thereby there is still risk.

Earth destroying things like pine straw beds with too little, or too much, pine straw in them, cars parked in the driveway but too close to the street and one of the worst of the worst, an open garage door.

Hey Sam - everyone - including yourself seems to be really focused on the 15K downpayment and how to structure this deal.However - you have yet to address the issue of the "BAD CREDIT" and the ROCKING BUSINESS.It doesn't matter to me if you answer questions here just understand if they have bad credit they wont get a loan.If their business isn't rocking then you will never get paid beyond 15K.Make sure YOU understand what their credit situation is and make sure YOU have proof of their rocking biz so you can decide for yourself if it is rocking or not.

Trish and Jeff:Please take some time to fill out your profile information so that you wont be tempted to put that info in your posts.This is probably the most often violated forum rule here.

That will destroy your credibility with that potential buyer.

It also appears to create some health risk, but literally destroys a home.

For example, another partner of mine wont touch a deal if it dosnt have $30k profit (ARV - fixup/closing costs/realtor fees/holding costs/purchase = $30k to him).

DO NOT be afraid to ask question...you wont know unless you ask...seems simple.D)Immediately go to the Networking area, find people in your area.

Most buyers who can afford the 20% cash down can get better financing than 9%.You also wont need to wrap anything.