This property is a bad Buy and Hold AND a bad Flip.Bad Buy and Hold:Your taxes and HOA fee combined are HIGHER than the rent.  

To get to our 40k estimate I am thinking using a combination of a peer to peer lending website and the home depot project loan.

These are assumptions, but the holding costs (taxes, insurance, utilities, financing if applicable) over the next few months combined with the selling cost (commissions, transfer tax, seller assist if you're selling to FHA buyer in a lot of cases) you're looking at about 85% of your ARV left. $90k x .85 = $76,500 - less repairs $25k= $51,000 - less acquisition $40k= $11k net profit.Consider the remaining profit you'll receive once this profit is split between partners and after taxes.I'm working on a similar deal right now and thinking that I will rent it out since the profit margin is only around $10k. 

Combined value is $72,000 - no major updates or repairs needed / planned.

I currently going with a combination of savings and very short term private money loans from my parents. 

So we have a very unique busienss plan.We don't follow the 1%, 2% or 50% ruleWe invest in appreciating market/rent areaInvest in Class A propertiesSelf-Management- Saving management fees and regaining controlLow Vacancies - nothing to dateIn general we follow the south west airlines model.

So we have a very unique busienss plan.

They have a wonderful grasp of the unique time in human history that we all find ourselves.

In our case, that's at least $400/month.Part 3 - If you use a combination of Steps 2 and 3, it must satisfy both steps 2 and 3.In summary.  

Eight is the most applications I've ever received for an opening; low response rate is probably a combination of low income, our long application (we're working on that),  and rural area.It seems like it is also unfairly penalizing the people who jump on getting their application in right away.Fun to think about though, thanks for sharing!