From there, dropping the down payment to 5% was her idea and we rolled with it to funding, and there's your origin story on my end.EDIT: Here, link.

You can get regular double digit (pre-tax) income with no work except your initial due diligence and monthly reporting.  

Assuming 6 months for the estimates bellow.Want to know if I am missing something ... advice welcomed.BTW - need hard money for this one if you have advice on this - welcome it is.Target purchase price: $230KARV: $360K (maybe a bit more)Acquisition estimate:Price: $230,000Closing cots (1%): $2,300My commission will be rolled into the deal (3%): -$6,900Total Acquisition cost: $225,500Repairs (it is a 3/2 with) 1488 sq ftKitchen Cabinets: $15,000Floors ( a descent ceramic): $4,000Painting and baseboard. $5,000 - inside + outsideWindows (10 windows): $10,000Light fixtures: $1,0002 baths (small baths): 6,000doors: 1 main door, 2 exterior doors and 5 interior doors: $2,000Driveway reseal, roof cleaning and elastomeric coating (flat concrete tile): $3,000garden and sprinklers (they appear to be OK but need minor tuneup): $3,000 - 8500 sq lot. mainly re-sod and some shrubs.a/c: $2,500Appliances: $3,000permits and inspections: $1,000we are looking for at 75 ARV hard money: $270KCarrying cost for 6 months: 13,500 at 10% interestUtilities for 6 months $1500.TOTAL COST: $294,400The sale:Expected sale price: $360,000 (on the lower end)Closing cost + commission: (5%) -  i am the listing agent: $18000PROFIT: $46,100Inputs welcomed.Hard money lender welcomed.I have been a Broker for over 14 years, live in the neighborhood, know the market.

Why not approach a mortgage broker and see if you can get pre-approved for a loan?

That said, I will usually be telling the tenants my plan for the carpet during the pre-move out inspection (mainly to let them know if they should be getting the carpets cleaned or not). 

@Joe Schaak  listen to Podcast #170, Andrew Cushman started by buying pre-foreclosures.  

Being new to the business, I am on the lookout for another experienced wholesaler or flipper here in Columbus to guide me through my first few deals in exchange for a chunk of the profit once the leads start rolling in (hopefully).   

I got my property specific pre-approval for a 203k renovation loan and started bidding on the property.  

Does it require regular monthly payments or is it all paid back in a lump sum at the end of some pre-determined term? 

It appears that this process may not be the best way to get the ball rolling.