I'm a beginner in the real estate game (one multi-unit residential) living in North Hollywood in the Los Angeles area.

The property initial sold price is X but the mortgage is X+N.

Good Evening:How do you go about finding Properties that are Distressed ( not properties listed on HUD or HomePath ...... as these properties Never seem to need that much work done to them ) I am looking for properties that I can pick up for around $30,000 - $40,000 and that need $15,000 + worth of Work done to them And who's ARV would be in the $100,000 - $125,000 range I have the Cash at hand to Be All-In on my end of things , at around $80,000 - $90,000 But I don't want to have all of my Cash tied up into one Deal, But I also want to make sure than I can Flip these Properties rather Quickly , by being able to offer them at a Purchase Price at roughly 10% BELOW the current Market's Value on Similar Properties with the same comps, and that are within a 5 Mile Radius of the Properties that I fix N Flip Is a Driving For Dollars approach most Likely my best Bet to find these " Severe " Distressed Properties ( Not so Severe though, that they have Structural or Foundation Issues ).

@Percy N.  

NNN is headache free. see if u can get 25 yrs lease, get fux rate n enjoy for 25 yrs.

Even Properties that sell in say the $75,000 - $90,000 range ( ARV ) , someone has to buy properties n these areas.

I know it's suspect when Realtor's say the future is healthy, but I think it's true and I'm holding my properties and in fact just bought another buy n hold rental here in Charleston.   

I had loaned him $50,000 so he could buy shares in a Hollywood media company that he introduced me to.

I agree with @Brent Coombs, if available, this is a Flippers bread-n-butter.

Was wondering if someone could help me with the best way to approach a family member to potentially fund a fix n flip investment while I do all the hiring of contractors n managing the property