@Aristotle KumpisWe do 10+ Flips/BRRRRs annually and fund with Hard Money and Private Money.Hard Money will fund 90% of the purchase price and 100% of the rehab on a draw schedule.Our Private investors will fund the remaining 10% of the purchase price, the first portion of the rehab (to be drawn later from the HML), and the holding costs.Of course, with private lenders, you must give up equity or a return on the debt.

I'm not a fan of novations where you don't get the purchase agreement notarized and filed at the courthouse.

Understanding the true material costs is important and I urge investors to get a good grasp of this before agreeing to labor only bids where they are responsible for purchasing materials.  

If your mother does not want to carry the note long term, there are GSE renovation loans that can be used for both purchase, rehab, and permanent financing all in one loan.

I have a followup question - I will realize a lot of capital gain from this home in Idaho, so I think unless I purchase a new primary residence I will have to pay that capital gains tax. 

@Preet Oberoi Purchasing a short-term rental (STR) or tiny home to offset W-2 income with depreciation can be effective if structured correctly.

The ONLY reasonable deals are:Appliances when purchased if you have a retailer that offers unlimited repairs/replacement for 5 years for 10% of price.

Im looking at purchasing a duplex in middletown, Ohio.

For an investment property (purchased as an owner occupant), that is insane. 

When did you purchase these properties?