Sorry if I wasn't clear with my explanation the first time around. 

We provided every document, learned about every step of the process, wrote letters of explanation for everything, took 3 classes about home ownership and landlording, deferred every purchase we could.

I was also thinking about providing an explanation on how we determined the offer price. 

If it were me, I would not use a HEloan for a flip, however I have limited flip experience so take the explanation with a grain of salt. 

I did a lot of these in my day probably 100 or more.. but we could always stroke a check and or refi.I have run into numerous folks that got into title on houses .. tenant would not pay and they made it one or two months before they could no longer pay on the underlying they were running on a shoe string and got into these deals with little money and no credit and listen to coachs and guru's as how to buy with little or no down and no personal credit.. well this is a way to do it.. but its very dangerous for a seller whos credit is important to them etc... its just not a beginner strategy or a scheme to use when you have little or no money and no credit..Unlike what the gurus and coachs say.

@Brandon HallThanks for the great explanation 

There are ALWAYS people willing to do 'terms' (i.e. even in a 'seller's market') you just can't expect them to be 'advertising' in most instances, and the publicly available LO houses are often GONE within a week or less (with numerous applicants, if the property is desirable) so your BEST angle is to find someone who does LO deals FIRST... and then have them find you a 'motivated seller' within the area(s) you prefer to reside.

If you go to Homepath.com and click on the First Look Program link at the bottom in the purple area it gives and explanation. 

I've ready numerous books, listened to podcasts, etc Im just a little stumped on how to start.Any advice?

So even if a few unicorns die a spectacular death, and numerous start ups fail (remember most start ups fail by design), the upshot is that good employees will get rehired.