Are you prepared to put in THAT effort? 

That involves consideration on forming a legal entity that you might have to hire someone to advise you,  figuring out your financing that you pe-qualify for and get a loan letter from the lender that will help you and give the owner a comfort level, and a new business location that is convenient and has minimal distractions.  

I put in the letter that I can help them sell their home quickly if they are behind on their mortgage.

Bought the house for 12k, put in 27k in reno.

The amount I put in is very close to the sell price - basically I'll be making nothing with a 3% commission. 

It is incredibly unlikely that this will come up, unless you attempt to get another owner occupant mortgage within the next 12 months.If it does come up for some reason, you will have to document the portion I put in bold.

I have two right now that look like they could be a profitable deal for me but I'm hesitant to put in an offer because I'm unsure of the realistic values because other home sales nearby seem to vary quite a bit and I don't have a ton of info on the other properties that have been sold.

With 401Ks (let's leave Keoghs out of it) you can put in $36K per year.

Hey @Adam Curry Thanks for the encouragement this is definitely something that will take time to break but I am willing to put in the work.  

I put in an offer on a 1500sf 3 bed 2 bath in Hiltop 2 weeks ago.