I usually do suggest finding a deal first as it increases the chances of landing a mentor, but I'd also say that finding a deal is the 1st step even without one.

I wouldn't take on a residential remodel for a customer anymore - it takes too much time to get all the details perfect and I usually have a couple residential remodels of my own going at any one time. 

The Tenant/Buyer puts down a deposit (which is usually your fee) and signs a lease and option agreement (separately) with the seller.

Some information I can give you though that maybe be helpful is that lenders will finance usually between 75% - 100% of the purchase price and 80% - 100% of the rehab costs up to 65% ARV (after repair value) some may go as high as 75% rates can be 7% - 15% with 3 - 6 points.

Usually a re-inspection costs a little less, maybe $250, as its not as labor intensive, it's mostly paperwork at that point.

I've seen several properties sell recently that had to be seriously cash flow negative.

Website gurus don’t usually know these rules and the advice offered by some is just plain bad.

Any thoughts on how this process usually works.

Adam we usually only sell to buyers using cash or hard money.

It usually works out to be a good deal for both parties.