It not impossible but understand there are dozens if not hundreds of other flippers out there who can estimate rehab and ARV just by looking at pictures and if they haven't already paid cash for the house, than it's probably not a good deal.

In equation form, if: potential return x probability of gain >> cost of investment.For example, a deal that costs 10K that is associated with a 50% change to earn $100k is a great investment!

You realize you’ll have probably 3-6% closing cost and pre paids.

If you have been it’s probably not that bad.

They probably want those eyesores fixed up, and they might be able to provide you with some good information. 

probably needs to be a short sale.

It's cheap coverage that will probably never pay off, but if it does, it will pay off big.

I haven't done my first deal yet, so I'm probably not the very best to shed some light, but I'd highly recommend joining the Wisco REIA.

You will probably need to use hard money.I think if you buy in cash, then you wouldn't have to wait 6-12 months to refi.

One home on Green street In SF I had to foreclose on peaked at 2 mil in 88 by the time we went to trustee sale no one bid it at opening bid of 925k.. today probably 5 mil easy if not more.. and by 97 ish back to  2 mil.. who knows what will trigger the next one.. but  when credit froze in 08 there was nothing we could do if you did not have cash .here are some areas I worked in   in those days and the crash.1. parts of Atlanta I made loans on houses that were worth 150k my loans were 90k   sold this 97 build for 36k in 09.