I’d definitely offer with an inspection contingency.ARV on a good quality rehab is 175k+, with some really solid comps to back that up. 

If we crush the rehab I think we can even push closer to 200Cash-Out Refi Amount: $131k (75% LTV of the conservative 175k figure) Profit if done as a flip: 60k. (175k - 115k purchase price & rehab)Cash Invested: 18k (This accounts for $7,500 for down payment to lender, $2,000 in EMD to seller, lender fees, inspection, insurance, title, projected 3 months holding costs at $1000 per month)----------------------------------------------------------------------------If I do it as a flip, from what I understand, I'll be hit with a ridiculous tax bill (24% short term capital gains + 15% self-employment tax), leaving me with roughly $36k after-tax profit. 36 - my 18 invested leaves me with 18k increase to my net worth.

If you don't mind providing some data for me to reference I'd appreciate it, but understand if you want to keep some or all personal--namely I'd be interested in approximate location, bd/ba count of your property and the rent % increase (or if you're comfortable sharing actual prices) implemented between your last tenant and current one. 

During my educational journey, I would like to understanding various creative methods of real estate investing, but not sure where to start.

My understanding is: most sellers will pay their commission, but what if they don’t or they only pay a portion of it?

I have recently found some of my investor clients  solid investment properties in Reading.

There's nothing wrong with active investing (buying rentals), just make sure you go into it understanding how much work it is, and be prepared for it to be a side hustle rather than a source of passive income. 

Please help me, in simple terms, understand the process.

If you are looking to have a solid investment property that is paid with OPM and makes a little bit of cashflow that you can sell later in life for a major windfall - probably not that crazy.

If I understand you correctly, this is similar to a "5-Day Sale" which has been around since about 1993.