I buy houses at 15%-20% of current fair market value.A hard money lender will put up Half only in this scenario.All of the various methods on this website REQUIRE finding a good deal except for owner occupied FHA/Conventional financing and that takes at least mediocre credit.

Some methods make sense and some don't.

This method in my opinion is pretty much mentorship and cash for deals without any upfront financial cost.

I will be moving to KC next month and am new to REI, so I am trying to explore different properties.

Yes, Yes, with proper deposits and built in protection with rent prices via maintenance reserves.This is one method we are considering rather than trying to find a flip to increase investment capital this year.Thoughts, considering low Cash on Cash but possible increased investment capital through equity?

Would I have to find another method of financing the second deal like hard money or private funding?

Realty folks will use comps instead of the cap rate method for valuing the property.

See Uniform Capitalization Rules earlier.The costs you can choose to deduct or to capitalize include the following.Carrying charges, such as interest and taxes, that you pay to own property, except carrying charges that must be capitalized under the uniform capitalization rules;Research and experimentation costs;Intangible drilling and development costs for oil, gas, and geothermal wells;Exploration costs for new mineral deposits;Mining development costs for a new mineral deposit;Costs of establishing, maintaining, or increasing the circulation of a newspaper or other periodical; andCosts of removing architectural and transportation barriers to people with disabilities and the elderly.

My son (a budding RE investor who encouraged me to join this site) has been pushing for us to explore this option.

Keep on exploring BP, there is so much great info on this site, and good luck with getting your license!