My realtor gave me a general idea and my wife's dad was a contractor, so we had a general idea.  

I feel like I am missing something as I struggle with the idea that middle TN is at an all time low for housing, but I cannot build for cheaper than buying....

Live in an area where homes are about 400 k. Landlord does not know how to manage this 3 bedroom house. We think he can come down a lot on the price ~200 k because he just wants to get rid of it. Can prob rent it for ...

Please inbox me for our website/info please feel free to give me a call and I may can help you with your project and we can help with your flip and ideas at a reasonable cost. 

thank you @Todd Dexheimer I did check a local credit union but as u said, I should check with few more, asking seller to finance 10% is a good idea as well, I will give it a try. 

I got an interesting idea.

I got an interesting idea.

The idea here is that is it very passive for you.

I would suggest looking online to see what's in your area for rent currently though so you can get an idea for the price point and quality of upgrades people expect.

If you don't have experience owning and maintaining property, but feel you could, it's a good idea to have a little business plan printed for lender, detailing how you'll manage the property, to show you know what you're getting yourself in for.