As someone looking to rehab and AirBnB, I can't imagine paying someone a premium to find a fixer upper for me.  

I am planning to buy a fixer upper and make it a B & B.  

Heck, the appraiser even used my own great deals of fixer-upper duplexes that I bought for 15K each a couple of months ago, as comps.

. - $20k. down for an LO reassigned, or sandwiched... just isn't likely to work at least 50% of the time, unless the house 'tenant buyer' is looking to get into an 'upper end' abode?

Buy a fixer upper that's still habitable (unlike a foreclosure).

The property is a townhouse with a garage and 2 upper floors with 3 bed and 4 baths with a back yard and 1,470.

Amiris , maybe you and your boyfriend could buy a fixer upper for your own , fix it , build equity , ( wholesale along the way) have a place of your own first , then get a HELOC for future capital ,and you'll see how you like fixing houses also.

My current plan is to collect the equity of my current co-op apartment, find a habitable fixer-upper for our primary residence to live in for at least two years (probably under conventional financing) and simultaneously doing a cash flip. 

I have  worked helping contractors and investors assemble their shopping list for repairing their fixer uppers for years now.

We are local, and, while we do not play in the upper end like you do, we find that it is all about expectations and follow through.