Was previously purchased with a Builder to erect a SFR residence on.

If your mother does not want to carry the note long term, there are GSE renovation loans that can be used for both purchase, rehab, and permanent financing all in one loan.

Is it better to have a willing seller and buyer before sending the initial purchase/sale agreement?

If you can show that the numbers work, you can get 100% of the purchase and rehab covered.The key is finding lenders who work with new investors.2.Partnering with Experienced Investors– If you don’t have capital, you can offer your time, effort, and hustle in exchange for a piece of the deal.

But unless you get a value-add property, purchasing real estate really doesn't make much sense in this environment?

What this leads to is higher purchase prices but also higher rents in these areas. 

I think if you just attend any group, you'll find investors that purchase remote and local and you'll be able to learn.

@Chase AlexanderRecommend you first figure out the property Class you want to invest in, THEN figure out the corresponding location to invest in.Property Class will typically dictate the Class of tenant you get, which greatly IMPACTS rental income stability and property maintenance/damage by tenants.If you apply Class A assumptions to a Class B or C purchase, your expectations won’t be met and it may be a financial disaster.If you buy/renovate a property in Class D area to Class A standards, what quality of tenant will you get?

I recently purchased a second foreclosure property, another condo on the east side, and am looking forward to flipping this one. 

@Aristotle KumpisWe do 10+ Flips/BRRRRs annually and fund with Hard Money and Private Money.Hard Money will fund 90% of the purchase price and 100% of the rehab on a draw schedule.Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs.Of course, with private lenders, you must give up equity or a return on the debt.