Hard Money will fund 90% of the purchase price and 100% of the rehab on a draw schedule.

Ed, The deal fell through on the land we were going to purchase. 

So, with no foundational knowledge of real property, and no capital, his only alternatives are (1) “bluff” the homeowner into thinking he has the money and intent to close the purchase himself and or convince the homeowner he has an extensive list of cash ready interested buyers (“partners”) with whom he’s done dozens of prior deals or (2) pack up shop, write off the money invested in mentoring to a worthless investment, and decide IF real estate is right for home.  

That is not an issue.the question is how to coordinate the two sales and one purchase. if it’s too complicated, may just pay the capital gain tax.Quote from @Bill B.: You lost all hope at step 1.

I have purchased properties in the past with owner financing.

I run into this situation a lot where owners buy a property and then they move out for some reason and want to rent out the property but unfortunately the property was not purchased as an investment and the income will not support the expenses every month.If I were you, I would look into a different strategy so you are able to have some positive cash flow every month.Have you thought about furnishing the unit and doing Air BNB, or furnished mid-term rentals?

My goal is to purchase one or two homes this year to fix and flip.

I settled on NBT bank for my 7 family purchase. 

since a BRRRR involves a purchase AND a refinance, you'll 'close' twice and likely pay 10-15K just in closing costs.

I recently purchased my first property in Cleveland Ohio.