I know that for CoC the bank financing option is the better route but I'm wondering if there are other factors I should be considering when deciding which way to go.What would you do in this situation and why?

Two factors that I've found are key: (1) having a great local realtor who REALLY understands real estate investing.

You can also drive or walk a neighborhood and look for poorly maintained homes and find the owner that way (this method heavily depends on your market)  it probably wouldn't work to well in places like CA

Neighbor is on probation for drunk driving and has a record of battery.

Make sure the numbers work, that the ARV is reasonable, that the repair estimates make sense, that you factor in the buyer's profits and costs, and you should be good. 

@Daniel Sabato There are so many other factors which impact the loan process not just down payment.

Driving for dollars and ads are the only ways that I know of for finding them are there any others?

It will be a lot of work but if it allows you to buy in a year it will be a short term sacrifice.Depending on the value of your car, perhaps you could sell it and drive a junker car so that you could eliminate your car payment and use the money you were paying on the car loan towards your other debts.If you are not willing to sacrifice I would not buy in a year.

Now you have to weigh how long it will take him, vs waiting for someone else to be able to get there and finish it, then factor in the added cost of the new crew vs what you're losing in revenue waiting for him and see which one works out better financially.

The same cash put somewhere else reaps the same benefit.So here's another thought for you - Since cash flow is going to not really be a factor on these and since you have decided to hold on to one.