A pure zero down loan is pretty much unheard of in commercial space.

Some lenders base the refi purely on appraised value so, As long as it appraises high enough you can take cash out.

What that ignorant, stupid misleading pile of dog feathers guru told you about your shame exits from a contract is pure, and I mean pure, BS, do I really need to spell out BS for you?

This is purely for investment purposes. 

And to continue what Josh C. was writing, once you have the comps, get an estimate of the repair costs plus 10%, and subtract that from the price, and subtract a little more for bargaining room.I have gotten estimates of work just by calling around to a few subcontractors (plumber, electrician, clean-the-nicotine-stained-everything guys, carpet guys) before I made an offer.

Plus you now have a rental.If you buy a pure rental you have to put 20% down.

A couple of older threads.http://www.biggerpockets.com/forums/50/topics/15243-owner-occupied-financinghttp://www.biggerpockets.com/forums/48/topics/18061-owner-occupied-to-pure-investment-questionSomething else to consider is current Fannie Mae guidelines require rental income to appear on two tax returns before they will count it when applying for a new loan.

Imo I could sell tomorrow for 130-140k with multiple offers so we're looking at a worst case scenario of a profit of only 6650 which would be awful... but my expense estimates were very very high and the amount on the loan is under 80k currently so we will still have cash at the end either way... but from a pure profit standpoint it's a thin margin and if we assumed a holding time of 6 months for a quicker flip and financing for material we'd be in bad shape even without labor costs.  

Its pure profit.I fully get that agents sometimes show a buyer a bunch of properties only to have them buy nothing. 

Do you find yourself more drawn to the pure income markets near you like Pottstown & Norristown, or stronger population/economic growth markets where you give up some of the income for a better chance at strong capital gains like the neighborhoods surrounding Center City or a town like Conshohocken where a lot of young professionals seem to be congregating?