If you want something different, they want you to have it in writing and remain consistent. 

It all gets stripped to the outer walls, mechanicals replaced, and upgraded anyway.About the only things we consider to add structural value to a "distressed" SFR is the remaining roof life, HVAC upgrade (gas instead of oil, central air instead of window units), high ceilings (of the lack of low ceilings), replacement windows, and actual above grade square footage.  

There are all kinds of options in Memphis that can allow you to remain passive and avoid some higher priced homes. 38117 & 38119 are great zip codes in Memphis to buy, fix up and flip! 

It could be best to wrap the loan you are getting and to sell the property to your sister rather than remain on title as the owner.

I'd say it remains to be seen if we will settle at a new higher baseline now, or if the trend will revert back to the pre-2000 baseline.

If you cheap out on materials or don't get what the contractor specifies, the 75% remaining cost in labor hours will go up and the quality of the materials certainly impact the amount of time it takes to install them.

I ask the seller "loan" me the remaining 45K at which I repay in 25 years at 5%.

No Ellis, they aren't the same.LTV and combined loan to value is just one aspect.A purchase money second can go to 90% of the purchase/appraised value, being 80/10/10 for example for a homeowner, owner occupied, it's much different funding that to a flipper for construction or renovation, that's a different thing.Ability to pay, credit, collateral, remaining equity, use of funds, loan concentrations, amounts at risk and size of the loans all play on risks.

Usually the sellers will take just enough to pay the brokers commission and take the leftover for what they could have made in a year working etc.Would throw in a kicker for the remaining 100,000 note where I could buyout the note early for a preset discount.

We have close to 60% of the final price, do you know of any place that can provide funding for the remaining balance on short term?