If so, then absolutely commission only.

Interest rates are very low, probably around 4.5% if its a second lien position.  

I know inventory is low right now, so I will keep searching. 

@Julie Belton, the cap ex, repairs and insurance expenses seem too low to me.

I'm a big reader and listen to many audio books, one of the books that I listen to was The Book on Investing in Real Estate with No (and Low) Money Down.

Hey @Brandon Blase Look into Low down payment stuff (203k loans - for rehabs, and FHA loans for normal purchases).

I know the repair costs will likely be north of $20,000, but it might help take the sting out of the low offer, and provide some justification.  

You can find all the contractors you need -- just go to Lows or Home Depot 5:30 in the morning and talk to the folks buying material for their next job - negotiate Charles 

(DO Ask for receipts if it's for material deposits.)Share competing bid information and "bid shop".Encourage bidders to get into a bidding war.Try to low-ball contractors.....they will try to cut corners or make it up with change orders a lot of times.And finally, DON'T assume that "All Contractors are Crooks" or that "All Contractors Will Rip You Off".  

@Walter Minja Absolutely, let me know how it goes!