I buy houses at 15%-20% of current fair market value.A hard money lender will put up Half only in this scenario.All of the various methods on this website REQUIRE finding a good deal except for owner occupied FHA/Conventional financing and that takes at least mediocre credit.

Some methods make sense and some don't.

This method in my opinion is pretty much mentorship and cash for deals without any upfront financial cost.

Yes, Yes, with proper deposits and built in protection with rent prices via maintenance reserves.This is one method we are considering rather than trying to find a flip to increase investment capital this year.Thoughts, considering low Cash on Cash but possible increased investment capital through equity?

Would I have to find another method of financing the second deal like hard money or private funding?

Realty folks will use comps instead of the cap rate method for valuing the property.

It has been a KISS method that has worked out really well for me and kept me from screwing things up, which I am sure would have happened if I would have tried to have been more Geek like in my approach.  

Since there are hundreds of opinions of the best methods, I'll share with you my current strategy.  

Here is my simple really quick rehab interior estimate method.  

Great suggestion Aaron.Although I'd probalby still have to use the ol' numbers,l on a napkin method lol!