So not a perfect BRRR, but aiming to get as close as possible.  

Get financing lined up so when you fined the perfect deal, it's ready to be bought.Good luck man

Seller has an Oil Tank on property and wants me to know he doesn't have the money to move it.

. ~20 or 25 years.It can be hard to tell how the tank of a water heater is doing.  

Perfect example that goes hand in hand with the Newport example previously given but in Providence.  

I've been thinking about this for the past 1 week and not yet got a perfect solution.

In my former realtor life, I easily sold well over 100 nice higher end homes every year-- because I FOCUSED.I developed a very organized system ( felt like McDonalds as far as processing the client on-boarding-training then find it-buy it-close it part of transactions).I chose my top 10 favorite parts of the Greater Charlotte MSA and I think clients were drawn to my success, in depth knowledge of each area.The best part with a focused system is it permits quality time with clients.If you will focus , develop your system --and perfect your support team of professionals, nothing can stop you and money just comes!

If it looks like the area, albeit run down and in need of moderate to extensive upgrading, is undergoing progressive and aggressive gentrification that's the perfect place to invest in IMO.

you just need and equity partner... then you two strike whatever deal suits the both of you.these things are fluid  not set in stone and each has their own deal structure.. its the fun part of real estate.however the first lien holder may require your equity partner to go on the loan with you.they may not accept a 80  10 and 10 deal.... in the old days it was perfectly fine.. but now not sure@Chris Mason  is there 80  10 an 10 product out there are these being done in the investor arena

HE ADVISED THE WORK THAT HE HAS DONE ON THE HOUSE (NEW ROOF IN 2011, HARDWOOD FLOORS ON FIRST FLOOR, NEW HOT WATER TANK, REDONE A BATHROOM).