Do you have 35k for the rehab, if not that has to be included in the amount borrowed.

Just borrow the money to buy yourself and don't complicate things with a partner.

The key is that you have to buy with cash or borrowed money at great prices and sell at full retail offering "Seller Financing" to folks that have a decent down payment and can demonstrate the ability to pay!

I'm considereing borrowing some from my brother inlaw at a low interest rate.

Not my area of expertise but my understanding is that the winning bidder at the foreclosure auction is the owner subject to the 1st mortgage.this is probably subject to state law but generally the 1st has to accept you as the new borrower. 

Referrals are also a great way to borrow a trusted source’s familiarity with an operator, and this is something I have leveraged heavily with many of my investments.Track RecordThe most important item to consider is an operator’s track record.

He wanted to borrow our vacuum to do some cleaning and we refused to lend tools.

I can either save ~75k in the next calendar year (presumably 50k for down payment, 25k for rehab) and wait a year before beginning, or, is it possible (and wise) to borrow against my primary residence to get started now and keep the momentum going. 

Once the lender files the notice of trustee's sale the borrower has just 90 days to bring their loan current or pay it off.

Essentially, our Notes require the request to change payment address to be made in writing and submitted to the Borrower's address as listed in the Note by first-class mail or personal delivery.