I plan on living in it for a year or two, before moving into another property and eventually growing my portfolio.

Eventually yes, I would love to live off the income from my properties, but in the meantime, we will channel the money back into the business so that it can grow faster.Recently, we have met with a mortgage lender and a real estate broker and we have started looking at a few properties to understand what is available to us.

That bank folded, and it was bought by Wells Fargo.I called Wells, and they said the home would be eventually listed on the HUD Home Store.

Again scraping top make payments, eventually selling that and paying off the the first stick house I had lived in for 11 years. 

.- OR -2) Wait for the homeowner to miss one payment and foreclose on the property, thereby buying something for a deep discount if you don't mind going through the courts to eventually own the property.Has anyone seen this type of negotiation/deal with lenders?

I own a condo with my brother that will eventually be sold in the next year or he will buy me out which will bring my cash in hand to about $100k.

Their intent is to eventually own it outright for their personal use. 

I had one friend partner with his brother's father-in-law, another used savings, my dad got a loan from his father, another started as a manager and eventually built up enough capital to buy some properties. 

Let them know you do not pay for partial work so if they don't complete and you have to hire someone else they will get nothing as whoever else you hire will not warrant the work that has already been completed.These are only a few things and undoubtedly you will have a contractor issue eventually but these few things should help you minimize issues...

In saying that, I am looking to gain experience in the rehab and eventually the buy and hold areas of REI and ultimately learn what constitutes a great deal.What value could I bring to a rehabber/flipper?