I have the conventional financing set up, but I don't hold enough in cash reserves to get the repairs done.

Interested in flipping, buying and holding, and RE in general.

I only do buy and holds for rentals as I don't like the tax ramifications of flips.

Hi, @Ben Roberts.I agree with @Curt Davis, @Alex Craig, and @Dean Letfus.Your downside seems to be protected in many ways.I don't know if you've bought your first buy & hold yet, but this sounds like a good way to test the waters.  

Or a FSBO that becomes a Buy and hold. 

Looking to invest in multi family " buy and hold" in and around the Buffalo, NY region.

I am a mechanical engineer by trade but currently hold a project manager position for small to medium capital projects.

Rehab/flip, buy n hold, syndacation?

Sounds like you are looking for buy n hold investments?

If you purchase a property in the Midwest for $30k at a "20 cap", and you get lucky that CapEx doesn't kill you, and lets assume that you earn $500/month of true cash flow even after 10 years of holding (this would probably never happen, but I am giving your statement every possible benefit of the doubt).Or, you purchased a $500k property in Northern California at a "3.5 cap", this was bought at a true market cap -- no discount.