@Shashi P.You're not going to get an exact recipe here, because there're too many parts in this game. 

They have more skin in the game then you do.Make sure you get clear title.

You have to sit down and look at your financial situation as well as current and historical facts about economic crisis and how the real estate market was affected and make a game plan based on that. 

I’ve recently joined bigger pockets through a co worker of mine to learn and possibly get into real estate game myself.

Plus you need some monay in the game.

She had 4 TVs in the house, 3 gaming stations, new bikes for each of her kids, etc. 

My plan is for my fiancé and I to move into this home once it’s renovated and Airbnb the house for game weekends and large events in town (house hack).

@Michael Anderson If current sqft. is $75 and you're getting it for $37 per then you're ahead of the game. 

I know the fix and flip guys are following this model as well, though, it seems only the more experienced flippers are staying in the game here while the rest "wait and see" again.Talking with lenders, almost all the hard money guys cancelled their loans and are no longer offering new lines of credit.

If you are being asked for a POF it can mean a couple things, but most often then not, its because you are new to the game.