The monthly cost on an HML is very high so make sure the numbers make sense before you get under contract on a home.

Flipping to build chunks of cash to invest in buy and hold rentals is a common strategy.

It makes a lot of sense and I am now actively trying to connect to other business owners and investors to form new friendships.My question is: have any of you been in a similar situation?

I has this conversation with one company which made sense to me.

Then once you figure out how much you have to put down, determine if it makes sense to shop a deal for an equity partner, or seek private lending/HML to fund the deal.

What is common practice in that area? 

While doing my research I have noticed that a common theme for most first-time investors is that your first deal is typically the hardest, but, after the first, the rest come easily. 

And find a partner that share a common vision and purpose.2) Get clear on your values.

Just to clarify, I don't mean partnership in the legal entity sense here, as I think we want an LLC with all of us being passive investors.  

Does anyone know if this price is usually a baseline and they are likely to receive more than their asking price or if it is common to offer a lower amount based on repairs needed?