During the same time period, the real estate market was racing ahead, so all of the stress and sweat of the preceding 18 months were looking like a better bet.

You can’t sweat the small stuff in this game.

Currently working to sweat to save up for my first purchase.

The amaunt on the loan will be about half of what the property will be real estate appraised for (I have done 80% of the work myself, sweat equity, etc...).

I wouldn't sweat either candidate.

That is, don't sweat the small stuff until you buy.

The only way to get a fixer with low money down would be the FHA 203k loan, which will again be for owner occupied residence only, but then you will need to do the rehab by the book, with full permits, using only licensed bonded contractors for the work, not so much of your own sweat equity.

Unless you take care of everything with your own sweat and labor.

I also would be interested in partnering up with the right person, and letting them have a “sweat equity” portion in the property.

My friend is bringing no money...mainly sweat equity.