Here are some specifics:Purchase price: $955KSeller Finance offer: 20% ($190K)Reno cost: $90K Ideally we would like to do a Morby Method where we purchase the home via conventional mortgage or hard money lender and on the back end have the seller lend us the $190K with a second position lien on the property and a 5-year payback.

For example, $400,000 ARV on a home x .75 -$50,000 (remodel) -$20,000 (assignment fee) =$230,000 offer priceHopefully this helps!

There are lenders that offer helocs / second mortgages on investment properties. 

A higher cap rate indicates a better investment, as it means the property is generating more income relative to its cost.Our findings suggest that Reno is a good market for real estate investors, as it offers the potential for strong cash flow returns.

For example, an experienced plumber may suggest putting hammer arrestors on a plumbing system, to help alleviate potential water hammer problems (knocking noise) and prolong the life of components/fixtures/appliances, but the local building code may not require them.It would also depend on what you are doing the work for and how the deal #'s pencil out.

I HIGHLY SUGGEST NOT USING CREDIT CARDS FOR FLIPS.

If you try to sell, offering seller financing could give you a leg up.

PHX has a hillside ordinance that's not that easy to navigate, so you may lose SF due to excessive slopes or what the ordinance dictates.I'd suggest doing a bit more research - can you get a survey of either property? 

Always open to other suggestions.  

Just made an offer on one earlier in the month but it fell through so I may hold off until later in the year / early next year to catch the beginning of prime season vs mid season.