He said no sale but that he would like to be an investor in my project.

My first project like this. 

I have done several projects in that past where I take a structured list of addresses and analyze them based on the robust data there.

Annual Expenses are projected for the property by multiplying (1) the actuals for the current year you obtain from the seller and (2) the project rate at which the expenses for the property will change year over year.Property Value can be obtained from your realtor or can calculate it based on the comps for the area. 

You can still have flipping project done with investment kf only 100k.

I also manage projects from a distance for work and feel confident in implementing similar strategies for the systems and resources required to remotely manage the properties correctly...but I'm still preparing for hard work.

Thanks everyone, Its our local credit union, we have a decent relationship because we used them on our last project.

Altogether, the project is going to cost around $75-80k.I plan on refinancing and renting the property after rehab for somewhere around $1,500-1,800 a month. 

The extent of the rehab project is dependent on many factor, including (but not limited to): Deferred maintenanceAdditional rehab costs to capture increase in rentsTarget demographicsNeighborhood dynamics (including comps)How much repairs and maintenance a building will even allow?

Beam, Post tension, driving piling, bell bottom, floating, pier and beam...Make sure you have a foundation company that is proficient at the type of project you have.I am no rookie, and I have had major issues with 3 (BBB accredited) business's this year who claimed to be experts in foundation work.