Keep stashing away from your w-2 job, resell things on Craigslist/eBay/Amazon, sell crafts stuff on Etsy, rent out a spare room on AirBnB (if you own your own single family home), do some freelance tasks on Elance or Taskrabbit - all to accumulate funds for that first downpayment.And all the while, attend some local REIA meetings to expand your network list.Hope this helps!

Then after a year I would fix the house up and resell it at a profit.

Past sales say that your estimate of reselling at 175k is reasonable.

They have no intention of buying it but are rather trying to resell the contract.

I decided to just cleanup property and resell to another cash buyer.Here is a pic of homeKeep in mind you won't get deals sitting behind a computer or watching A&Es flipping houses. 

This won't work with a hard money loan as the hard money lender is going to expect to get paid when you resell the property.

I would suggest $600 - $625 instead of $570 per monthYou might have to provide a price break for future resell due to weird property layout.

Just wondering what certifications were needed after flipping a house such as electrical, structural, plumbing, etc. that must be met before you can sell the home? Wondering how many experts need to be brought in or i...

Technically, what you charge is the full resell of the property.

Since the seller has an agent it may be an REO or some type of property with a deed restriction on reselling so quickly.