I'd look into other creative methods or pulling in another partner3.

I figure we can probably get the project done for $20-25K in material and odd trades jobs.

If there are other options let me know.1st: Hard money- for the BRRRR method. 2nd.

Seller financing may be the only method that you could get away with no hard credit check.

I will trade $100/month for rent on time/every time, care of my property, long term occupancy and no phone calls all day long. 

We followed the Dave Rasmey method pretty rigorously up to step 4 (have an emergency fund and pay off all consumer debt.)

I wanted to ask if anyone had any experience in the following methods of finding deals:- Foreclosure- Probate- Short sales / pre-foreclosureAny pro's & con's of searching this way?

That adds to the profityou don't have to spend money to get the property ready to sell when you sell itif you hold on to a rental long enough, you need to put money in to it to sell itthe ROE (return on equity) goes down over time and it would be more profitable to take profits and trade up if you can continue to buy properties under market value rather than keep the money in the same property for too long.

I'm lost by your question but you want to focus on the income method to determine value.

If you aren't willing to trade housing for cocaine are you really an investor?