If you already bet on appreciation, it is better to secure cash flow.

As an aside if I was on BP and I was a newbie in the note business I would most certainly take Dion up on his DD product for NPN.for a few reasons1. affordable2. you have someone who really knows the industry looking at your potential deal3. you will get an education as you work with Dion or his company on DD  so you learn for future events.Even if your only mildly interested in the subject I would bet one would get more out of a DD package from someone who is in the moment real time than a canned course.Or trying to decipher all the varying opinions one gets on BP  be them pro or con.  

This property is in a c- or d+ area but a c neighborhood.I have not gotten formal quotes for the work yet, but I normally pay about 6-8k for total rewire, but my electrician is a destructor.

It would be easier to get a contractor's license.There should be tons of homes on the MLS that need repairs.Go in, make the repairs, rehab cover the material costs, contract a labor deal, relist at the new price, collect your earnings at closing.

There should be tons information in this website about financing your flip for sure.

HUD guidelines will be national, bet on it.Might not be as a favor to investors as just not getting activity in the last 15 days, so open it to the entire market place.

NEVER bet on appreciation4.

Your best bet on a small mortgage is probably a HELOC, but they will want to see that you've owned it for a year.

An HML is not going to subordinate their position, I'd bet on that.I doubt I do this deal, but, your money in a partnership is protected in the by laws or operating agreement in partnership agreements, filing a deed of trust or mtg isn't necessary unless you want to be a lender.

There will be TONS of rentals listed of all sizes and types.