If you're deal is good enough and you want to partner up on your first one, let me know. 

Just wonderingWe were going to refinance a large portfolio of SFR with them, but we didn't feel like their terms were quite good enough.

If the deals are good enough, locally you can get private and some hard money to fund purchase AND rehab until you refinance with a bank.  

that would get you a 11.7% ROI  Not great for that area but still good enough for the right investor. if you were willing to take a little more suspect of a renter you could get closer to the 600 range and all the #s get better but then you have the headache of having a tenant that has no other choices but to pay more because they dont have a job and or any credit to speak of

When I get in this mode (which thankfully is few and far between) I eat, sleep, and breathe everything there is to do with the topic until I think I have a good enough understanding to talk with the smartest on the topic.  

so forget thatthe company you talk about that wants 3k up front your BS meter is correct they make money on the 3k and you will play hell getting them to fund a deal for you they will just keep telling you the deal is not good enough until you finally quit asking .And all these guys that post on BP about loans form 5 k to 50 million rate starting at 3%  fico 500 .. all of them are NOT REAL they just want up front money..

good enough for FHA, but not good enough for conventional loans that require a 700+ score.Myself and my family are experienced DIYers and prefer to do as much as possible ourselves.  

I'm unaware of the condition inside the units (outside looks good) and what would take them to get up to market rents, but the numbers look good enough to make an offer.  

Is a signed note good enough, or do we need to record it as a security instrument with the county every time?  

Your money is made at the time of purchase and based on the scope of work as outlined in your post, at a $80,000 purchase price you won't have a good enough flip margin with a contingency budget for those unexpected "profit killers".