I enjoying flipping and turning ugly into pretty, but it takes skill to define the right property, so it doesn’t end up a hobby that costs you money!  

Now, I would base my returns on $75,000 down payment ($55,000 to the bank and $20,000 in deferred maintenance).

@Chanoch Moller, Finding financing independent of banks or different lenders is very difficult to accomplish.

one option is try to wire the money from bank to bank, something like this happened to me but I paid everything to escrow and they paid my collector. most of the collecto information addresses and phone number should be on your credit report.

About a third are paid off and my reserves and bank accounts allow me to loan some money without jeopardizing my business.I am a leading member of my local REIA and have met with someone from the group who has flipped abut 6-7 houses and is interested in working with me on her next flip. 

The online sales across the USA of bank-owned properties allow a window before closing that hard money (and private $) lenders need - often times you pay 5% of the winning online bid and your closing 30+ days later works for the requirements of the lenders. 

So, you should seek out a job you enjoy but also pays well.

@Amul S.Sure thing - Lenders go by the appraised value of the property, and lend you 70-75% of it's value.In order to do a successful BRRRR and cash out on all your initial capital, you need to make sure you can renovate and increase the value enough so that it meets this "rule", and you can get most if not all your money back and to pay back the HELOC.If your property appraises for 100k, most lenders will lend up to 70k-75k.I put the word rule in quotes because different lenders have different guidelines, but if you are looking for a conventional bank product like a 30-year fixed rate loan, Fannie Mae has their guidelines on how much they can lend up to.

Portfolio loan local bank, 20% down How did you add value to the deal?

@Joshua Von Schlutter if you are using a conventional loan, Fannie/Freddie will allow 15% down...some banks don't follow this rule but it is possible to get 15% down on an investment property.