They promise instant riches with little work, no money, and no credit.

This can infuse your property with instant equity.

Are you willing to get a mortgage on your own and then deal with the tenants without seeing a big payday for a while?

This test fails, however, because every lotto winner instantly meets the test despite their education or background, so the suitability test of "sophisticated investor" should play a strong role in the suitability analysis.  

We would like to have instant equity built in with future diversified retirement/ income once Reno loan is paid off.  

Not a huge payday, but I think it's best to leave substantial meat on the bone for the rehabbers to hopefully keep working together.

You are looking for positive deals that allow you a payday.  

A good contractor won’t take a look for nothing and will instantly look down upon someone who wants them to take a look for nothing.

People need to get control of their debt and quit this instant gratification crap.

Here is an example: Someone is trying to sell me a house for let say, $45,000 with an "instant equity" of $30,000 claiming that the "real value" of the house is $75,000, I would go to the MLS using my method as described earlier and find out what sellers' general asking asking price in the area.