Most of my purchases are sight unseen In class A/B neighborhood and often they are occupied properties and I buy them under my LLC.

In principle we are ok with debt if it moves us towards freedom quicker.

Often this is short sighted by the county or city but it is the usual stance. 

Don’t spend it either set it aside for the next deal or pay on the principle of the loan.

@Noah McBride The information your provided is not enough to provide an intelligent evaluation of this deal.At first sight ( my 2 minutes analysis )...

I then refinance them out with there principle and interest. 

It's important to maintain clear sight lines so when you drive by your property you can readily see what's going on.

Strangely enough, hedge funds and pensions have been buying up everything in sight over there.

After the "loan" piece was repaid, it switched to a more normal LP style deal.I wrote it all in past tense, though I'm actually still in it, having gotten most of my principle back.

But if you are trying to learn and you don't have the money for a $30,000 surprise, it's probably not in your best interest to buy sight-unseen until you have a better idea of the flipping process.