If you are going to finance it, the majority of banks will not lend if you don't have experience no matter how good the debt service is.

First, I recommend you concentrate on properties that YOU find attractive as an Investor, rather than trying to work out why other Buyers might like to pay you more than you Contracted, for a property that hasn't particularly appealed to the Investor-in-you in the first place.Consequently, finding a Lender who will "cover" you by lending the money to you IF you can't track down another cash Buyer before "closing" time, becomes a win-win for both Plan A (Wholesale) and Plan B (Buy)! 

A few of those will, eventually, be willing to lend to you.  

But were do you guys get deal flow these days with SEller carry back issues as they relate to dodd frank and the qualified mortgage.Is the business now mainly about dealing with NPN from institutional sellers? 

Private money is the money hard money lenders barrow to lend to you as hard money.

Instead of being limited to what a particular institution or advisor sells, you can invest in anything allowed by the tax code - which includes real estate.There is a lot of good information here on BP on the topic.  

It takes time to establish credit (3+ years) but once you can prove that your able to pay back debts the banks will want to lend you more and more; which means more opportunities in real estate.Here's a few rules you should keep in mind...1.

For example there is passive investing in turnkey buy and holds, private lending, and other things.  

BTW I do have experience in partnerships but only with myself and one other person and have limited experience with commercial lending but have used it in the past for a QSR I owned but not for RE.

To your first question, if it were me, I'd move into a new place with an FHA loan, and rent out the place you're living in now, but I don't know what numbers you're talking for your current home.As for your place in kensington/port richmond, if you can't find a bank that will lend you on less than $50k you need to keep looking.