What would you do if things went over budget?

I am on a limited budget to start.

Seriously though location is important but I don't think there are particular areas that are better than others for everyone, it depends on your budget, risk tolerance, time allotted to management, etc.

To stay within budget I would like to purchase the property for $140,000 (which I think is a fair price), but do not want to offend the seller.My question(s) are how can I use terms in the negotiating process to hit my price point?

@Camille Jackson - it is going to depend a lot on your budget, that will help narrow down your options.  

You could do that with a $30 per day budget and get some leads flowing.In addition to the AdWords account, you'll need a landing page which you can get from a company like InvestorCarrot or LeadPropeller.  

Some agents pitch 550k when you say your budget is 500k, let them know that you will only want to purchase 500k absolute max, you could even dictate that with the 500k budget, it has to include all the costs ie rehab, closing, etc.

I'm building a list of free and open source tools to help a group of friends sell their houses and am looking for input from others who also do this.SugarCRM (big fan of this -- not the easiest to use for newcomers, but provides great value when on a budget value)Wordpress (big fan here -- once we build a template to showcase a house, then we can then we can script out these installs)LAMP / LEMP -- Linux + Apache / Nginx + MySQL/MariaDB + PHP/Pearl (the platform all of this rides on).  

Is your budget capped at the 20k?

Another thing I'm particularly interested in are low-budget investments, even though this would not affect my decision to focus on house flipping.I hope this was kind of readable - I'm afraid my English is a bit rusty - however, thanks for reading!