If you're going to use it to generate leads for your "investing club" I'm going to put the dangers and risks close by so at least the small investor you're pursuing for these ventures knows there is more here than meets the eye. 

@Ryan BiankowskiYou absolutely can.Research your market, come up with a flip strategy (what type of house you will want to purchase, how you plan on finding this property, what area you want to purchase, how you will come up with financing), find the property that fits this strategy, secure the financing, and close on the deal.

Her management agreement says the PM gets 1% of the sales price is she sells it.

From the research I’ve done, we wouldn’t have enough saved to put the standard 20-30% down without the sale of the flip, and we are over the income limit for a USDA loan.

I was digging online and saw that there's has been a 20% increase in sales price from last year according to Redfin: https://www.redfin.com/neighborhood/288459/CA/Bakersfield/Oleander-Sunset/housing-market

The idea behind this is it avoids having to get qualified by a bank and closing costs.

Luckily, if you invest in Cleveland, I know a really great team who has a top sales team and a professional property management company in-house.

Quick update.I signed closing papers yesterday! 

Your gain on the rental property will beSales price less sales expenses less adjusted basis.Adjusted basis is purchase price plus improvements less accumulated depreciation.Best of luck.

Been closing some deals for some of my clients in 38109 and 38128 (Of all places) Lets connect!