I am in bad credit right now, I have $2k school tuition fees that need to pay off and a few credit cards no more than $1k need to pay off. 

I understand with every new purchase you should assume at least $5K in repairs no matter what...I am also familiar with and plan to mostly abide by Schaub's 10 / 10 / 10 rule that states: 1) Pay at least 10% below market value 2) Pay 10% or less down 3) Borrow at interest no more than 10%So - I would love some feedback here.

In the podcast he mentioned writing the rehab costs into the settlement statement, which required an escrow account to hold the funds at closing, if I recall correctly. https://www.fanniemae.com/content/guide/selling/b2/1.2/03.html"The new loan amount can be no more than the actual documented amount of the borrower's initial investment in purchasing the property plus the financing of closing costs, prepaid fees, and points on the new mortgage loan (subject to the maximum LTV, CLTV, and HCLTV ratios for the cash-out transaction based on the current appraised value)."

For these types of buyers, owning property equates to paying taxes, insurance, maintenance and no more cash flow.

The sellers walked away happy (no more mortgage + bills plus a small profit), I made $20,000 while only risking $100, and the buyer flipped it for a profit.

It should take no more than 30 seconds to look a license up online.Ask the name your potential lender loans under and look up a few deeds-of-trust or mortgages to confirm.

I guarantee you will have no more issues.

The hedge funds will have an impact, but no more than the Australians or the Chinese or the Canadians.

@Stephen DiNanno Actually been thru a few since and back with no more then I had at that time.  

Prepaid items, okay, but def no more cash, and preferably not even closing costs.