Sometimes the HOA fees (essential the same as our Body Corporate fees for units here in Oz) can be very high and out weigh any cashflow benefit of the rent.Getting funding can certainly be harder but not impossible. 

That way you could use the money that you would be paying for rent to fund your next deal.  

I will use existing rental income and income from my other business (ice cream shops) to fund the repairs needed.

Using funds, or incorrectly collecting funds and not applying them as indicated is particularly illegal. 

Also, FHA loans have very good interest rates although you will have to pay mortgage insurance because the LTV is well over 80% (usually 96.5%)

More importantly what they didn’t know is that on these purchases we use the rent market so if the rent market is higher from the rent borrower paid the whole deal falls apart as only the difference can be applied towards the funds to close.

I noticed that you mentioned using a HELOC on your primary residence to fund this purchase.

Seller will still gets the funds wired to them.Welcome to BP!

I have a long-time client who I've done a number of transactions with as their broker that is interested in providing funds for flips.

Total newbie question here but can I get an FHA loan to fund a flip?