Once I felt comfortable with what I had read, and had saved up enough, I contacted my realtor and started viewing properties that would cash flow positive.  

That intown area, like most intown Atlanta, needs to be viewed differently than say a suburban property.

I'm not sure I completely understand what you're describing.

Darius, what you describe usually takes place between two investors: one found a deal but doesn't have enough money so he/she brings a JV partner with money.As a lender, it doesn't mean we would not entertain an equity investment.

Booked in advance so I had dirt cheap flights, booked a cheap motel and viewed 70 (!!!)

So, if your state handles the payment of commission similarly, then it may be viewed the same as Ca, as well.

Anyone know of a great title search product that lets you pay a monthly or annual fee, instead of per report of view?

This is your market for lease option sellers and there are thousands of them in every city in the US, you just have to know how to market for them.It would seem to me that the benefits of getting paid 3 times (option deposit, monthly cashflow and back end payout)  on a house through sandwich lease optioning is much better than just getting paid just monthly cash flow by using the method you are describing.

In my view the originator should be the one who gets the FANNIE 1003 loan app from the borrower, all doc and does the underwriting of the borrower to YOUR lending standards:  DTI, reserves.  

What I meant was that in my experience many people think the demolition and construction costs are going to the be major expense of a new construction project like the original poster described.