I have a background and passion in design and home furnishing and think that I could put this to excellent use in the flipping business.

What excellent content.

My thought would be to get an excellent deal in the asking price to cushion against this risk enabling me to lower the rent per tenant over the next 10 years to remain competitive.

It's an excellent read with a lot of real life scenarios.  

Brandon Turner has an excellent (and very short) e-book on how he would do it.  

Those investors are looking at excellent rent growth due to the area and appreciation in those cases.If the area is average the rent to sales ratio is typically 1.5 to 2.

Scenario:Property worth $170kExisting mortgage $130kRepairs about $2000 to updateForeclosure "in lieu of"Buyer willing to commit between $100k-$110kIs this deal even worth it for him to do and if so, is this a candidate for a wrap transaction or "subject to" or is that the same thing and how does he structure such a deal?

I have excellent credit, my partner is rebuilding his since his divorce.

Excellent explaination.I've always thought of it as a Guru/Coach (I consider gurus and coaches as the same thing) as someone who actively their services....them telling you that they will help you.

Scenario:Property worth $170kExisting mortgage $130kRepairs about $2000 to updateForeclosure "in lieu of"Buyer willing to commit between $100k-$110kIs this deal even worth it for him to do and if so, is this a candidate for a wrap transaction or "subject to" or is that the same thing and how does he structure such a deal?