I have made some offers since Dec 2021, but have not purchased as the rates do not have underwriting that shows my high expectations on return. 

I would recommend listening to the BiggerPockets podcast, reading the guides and blogs, or even checking out some of the books they offer there.  

The chances are high you will meet other house flippers that can offer insight. 

I'm a little nervous too because the asking price is a little high for the amount of repairs that are needed, but I'm trying not to scare the owner with a low ball offer because I'm focused on getting him to finance the deal so I can get a low interest rate or no interest at all.

I think what the bank can offer later on would be 40 years loan with 30 year amortization, one can save 200-300 per month.

Owners mistakenly ASSUME all PMCs offer the exact SAME SERVICES and PERFORM those services EXACTLY THE SAME WAY, so price is the only differentiator – so, they often select the first PMC they call or that calls them back!

The laws are still evolving, so it's helpful to have a co-host that will keep up with the latest regulations, keep you in compliance, and help you to pivot your rental offerings as needed. 

Get offers from a few of them.

@Ryan Terrio what bank is offering that low rate for an ARM on a non-warrantable condo?

They offer ongoing coaching, deal review, and underwriting.