That will make the purchase void and tie up your money for nothing. 

The idea that you can build wealth without putting any money into it is a recipe for disaster and the sales pitch of gurus trying to steal your money.

I've been in Mortgage's for 25 years and have lots of money sources for flipping, investments and hard money.

However, especially for your first, I would suggest the money you pay for either option is a better value than doing it yourself.Pursuing an investment with a partner does complicate hings slightly and I'd recommend discussing the legalese with an attorney.How do you stop a tenant from wrecking your property? 

And having had to hydroblast roots out, about $3k expense, and then the pipe likes to collapse, so you can often be in about $10k+ for a full repipe to the street, plus landscaping repair on top of that.Foundation can also get pretty pricey.At the end of the day, having done 8 flips, I still think of them as if I can make money, and learn something, I am doing well. 

In that regard you better put money into CD. 

I really just want to pull some equity out do some updating on it, and put money down on another condo/townhouse most likely Florida or another  condo in same subdivision, pay off some debt. 

I have a quick clarification question regarding hard money loans for fix and flips.

if it's a low rent area then clean it up and don't spend the extra money.

If you feel more comfortable having a lawyer review it, that is still a stronger starting point to save money since they are not starting fresh.