They put the money down and you do the work (finding the deal, overseeing rehab, maybe management) and split the equity.

Make sure you get your name on the deed or have some type of contract so they don't change their mind about the partnership after making the house all nice after the rehab. 

While the project was profitable, managing unexpected costs required careful oversight.

You can buy an ugly house, fix it first or live in while you do the rehab.

Yes totally agree, the price of everything has increased making it more difficult to rehab a property and make a decent profit. 

Affordability: Compared to coastal markets, Midwest properties offer significantly lower entry costs, allowing investors to acquire more units or higher-quality assets for their capital.2.

By funding the $185,000 purchase price and the $500 renovation costs directly, we ensured a fast and smooth transaction.

If its vacant, i'll open it to STR with a short calendar window, which is where the King will come in handy as well - Going from queen to king bed doesn't really create that much of an increased initial cost, so I'm just looking for things to stand out.

I would never do a rehab for a flip or brrrr in a low cost market.  

I have noticed an interesting trend that's been more and more common since about 2018. Buildings selling for example $300,000 which need $150,000 of work but the ARV is only $420,000. Maybe people buying and not fixin...