I will be closing on my first deal in the next couple weeks and I have the funds for purchase and closing.

Buy in desirable neighborhoods, rehab to a standard that you would want to live in the rental. 

Using the 70% Rule, my ceiling is at $126k, and with a wholesale fee and transactional funding, my ceiling is at $116k.That leaves us only $24k to cover repair costs, and I estimate repair costs to be above this.  

When you're ready, here are some good DO's and DON'Ts when getting bids:DOWrite out a detailed scope of work that outlines exactly what you want to do.Clearly define what (if any) materials you will buy and what the GC will supply.Get multiple competing bids.Check GC references, call past clients of theirs and possibly even ask to see their work.Closely analyze each bid and ask a lot of questions on things that are not spelled out.Ask each bidder for an anticipated schedule for the work to be completed.Ask each bidder about their desired payment terms.Sign a contract/written agreement with the successful bidder.DON'TWaste people's time if you're not serious about hiring them.Walk the job with competing bidders at the same time.Assume that all GC's will see the work happening the same way.Pay large sums of money in advance unless it's justified.  

My client needs to incorporate funds for rehab in with her mortgage.

I'm working hard on fulfilling that contact with the funds.

I ran into TWO commercial properties that needs renovation in the very hot market of Fishtown in Philadelphia, I do not have the finances to purchase them but I am looking to outsource the funding.

When that investor went inside to view the property, I had to make a decision on whether to get in a bidding contest there, and chose to reiterate to the owner that I could provide a Wells Fargo bank statement with funds necessary to purchase the property (not fictitious) and that I would give a call back in the morning.

My thought was to pull everything I had together to make the proof of funds letter and then work on financing, but I'd have to close once I get past DD, I'd lose my deposit.

They manage the draws on construction funds too.