I have a few folks I do business who do this... its cheaper than selling your stock and paying tax's these loans are only secured by the stocks etc. but they happen for sure.. this is how we have financed many of our larger developments over the years..

(You can probably even find cheaper partners than a 50/50 split)Not to mention you can wholesale or even close/list on some of these deals.

And the tip for finding a cheaper but livable property is good too, I think there are several candidate neighborhoods in my area.

There seems to be some cheaper areas where I could get started. 

Usually the cheaper ones everyone wants can't afford to front the costs.  

Much cheaper and more flexible than continually getting new 3 month policies.

It really does not matter you go with a cheaper home at first and then move into doing a fix and flip that you can make more money on, in general.  

If it's mostly just cosmetic issues (holes in walls, paint, carpet, etc.) you may be able to get it done much cheaper than that.

I think my first move is to buy some business cards, setup a website, get a list, and send out postcards (since they appear to be cheaper than yellow letters).

Printing these in bulk is much cheaper.2.