@Becky Wolfe , I don't think this is really an issue of getting others' opinions... it just depends on what strategies fit your needs, skills, time availability, etc.  

Using the round peg that fits this round hole is a Sub-To, below Brian's post where he has "Paperwork" tell the attorney it's a Sub-To to you at your buy price, then pick up at Brian's list again and you lease-option at market value with the option being subject to title requirements (the payoff of the underlying mortgage).See, I'm not opposed to making more money, just sell this distressed property to your buyer at market value!   

Then, I'd take a look at your goals and determine if you need to partner in order to get the type of deal done that fits your goals. 

Storm door would fit the vibe better,  but entry door has a bit more secure feeling. 

I'm looking to continuing to snag additional property as I see fit but am running into this problem. 

I've looked for samples of purchase agreements but am having difficulty finding one that would fit this situation.

I did spend about 17K on repairs so that doesn't fit your current budget but just showing that I bought one for 0 down and did all the work myself.It can, will and does happen brother.

In areas with limited parking you may be able to charge addition fees for parking, pool/fitness access etc.  

Hey CorryLet's talk, I can assist you in Houston with securing deals that fit the criteria you specified (30% margin) - can also provide you with assistance in securing off market deals as many of Houston's deals are bought & sold off the MLS because the market is so HOT!

I'm personally biased towards Cleveland, Ohio as I'm a resident and familiar with the area, but other midwest cities fit the description too.And his point about having trustworthy team members on the ground can't be repeated enough.