Purchase price: $175,000 Cash invested: $10,000 Creative Financing, Short-Term Rental What made you interested in investing in this type of deal?

I am hoping there are better ways to acquire a property then doing this, willing to hear any suggestions.I will be meeting with someone in my area later this week and discuss all options that may be available to us in our local area for now, in regards to our current situation, financing options, and properties in the area.

Most prospective BRRRR properties will not qualify for conventional financing, meaning that you have to take it down with cash, hard money, line of credit, or another source of money that is not a conventional loan. 

Are these low priced homes able to be financed or are they all cash?

With hard-money, most lenders would finance up to 80-90% of purchase price with most of the rehab costs.Alternatively, there are great investment areas outside of Seattle in Washington, like Spokane (rentals) and north of Seattle.

Looking to purchase my first fix and flip property in the Detroit area, I'm about 12k short to be approved for financing.

Gaining knowledge about various tactics, current market conditions, and financing options for real estate can help you make better decisions.Attend meetings, make connections with seasoned investors, and get in touch with local real estate agents.

I'm trying to figure out how to get into real estate at a low cost of entry (~$50k cash), and so I'm of course trying to learn about how to use OPM and other creative financing options. 

@Jack Henderson   I don't have a couch for you but if you post again Creative financing isnt the right subtopic you are better in Short term rentals and title should be Recoommendation STR  couch. 

Cash flow is possible depending on the deal and financing but is challenging to find.