Also, a seller who has a good agent will realize these loans are more complicated and that this type of financing is less likely to result in a sale.

The seller gets out with the sale and your'e able to do the deal you otherwise may not have been able to without your money partner but since you're willing to split profits anyway, let it be a friend/family member vs. the seller.

If you are on a tight budget, a high quality sheet vinyl is also decent.

You can also structure your offer with I know at least a 2% seller credit so that you can be paid at the closing table when you're buying. 

I’m guessing some people wouldn’t love the feel of a cold floor on their feet getting out of bed first thing in the morning?

Generally using a loan to make a down payment on another loan is not a good idea.

In many cases the mortgage company writes off the loss or goes after borrower depending on if they have other assets - if they do then they are gonna be coming after the owner

Many of our projects have Section 8 vouchers on them.

Hey Biggerpockets fam, first time homebuyer here I would like some opinions on if buying a house at almost your max buying power is to risky. 

I hired a GC to manage the build out, but there has been no consensus on who is responsible for the utility payments (Water and Energy).