I am sure that there are folks out there with banking relationships where the banker would require zero down.

But there are tons of areas where you can buy that are not in an HOA. 

Where better than Richmond, VA, a promising location for such an endeavor?

Where I see the biggest pitfall however is, in practice, you may run into trouble with the appraiser on the new property re-fi if you're not doing any improvements.

My best current strategy is a lease purchase agreement, where they give me the house for a low lease amount and I cash them out after I'm done remodeling. 

I'm originally from Nebraska (Omaha/Lincoln) where most rentals still pencil out, so I have been looking there.

So, I'd probably lean towards you staying where you are and look for rentals to buy with the $100k as a down payment.

Depending on where your place is there are parts of the county near SLT that do allow them. 

Where city meets country and my favorite part.

Creative Freedom: You get to design and transform spaces, which can be personally fulfilling.The Bad: Where Flippers Lose Money⚠️ Underestimating Repair Costs: Surprise structural issues, contractor delays, and material price spikes can kill your budget.⚠️ Market Changes: A hot market today might cool down before you sell, which reduces the profit.⚠️ Financing Challenges: Hard money loans carry high interest rates that nibble into the bottom line.Unrealistic timelines: If you think you're going to be in and out in 60 days, you're sadly mistaken-most flips take longer than expected.Real Talk: Is Fix and Flip Still Worth It?