In regards to Bay View, I would venture to say that 99% of the stuff on the MLS will be listed at complete retail and won't be a deal where you can pocket equity on the purchase.  

I would seek a Joint Venture with a local flipper in Fresno or central valley (Merced, Turlock, Madera, Tulare, Visalia, Bakersfield) all good areas.

Being a year out of college and crap credit doesn't exactly scream lend me money to fund a new venture.

I would also suggest asking friends and family to see if they want to loan you the necessary cash to start investing.I would venture to say that it's difficult, but not impossible to invest under your particular set of circumstances.Good luck in your search!

However, I do not believe she is the right fit for my next venture, which is building spec homes and finding rental properties. 

However, I do not believe she is the right fit for my next venture, which is building spec homes and finding rental properties.

If I were you I would attempt to do a few deals on my own or see if you can joint venture with a local investor.

I have borrowed 100% of the purchase and 100% of the rehab using private money when I started, but I did already have a couple years  track record under my belt so that helped, plus my deals had large spreads which also made the LTV lower.Yes, you pay the contractors, but if you borrow or joint venture to have all the funds, the money does not have to be yours.

Well with that being said.....it seems like wholesaling my be the way to go for the moment.....as I continue to grow and learn I can venture out into other areas.

The 10% option is usually only available for primary residences when it comes to conventional loans with low interest rates, so investors will probably be happy to go on this venture with you as a silent partner.