I know that area is not necessarily a great location, but I only have about 35-45k liquid capital to put down, and another 30-35k available for any remodeling (ideally I'd like to spend max 15-25k, but I figure I'd save another 15k extra just to be on the safe side.

The bank appraisal comes back today so i will update this post later.4) Funded the deal using savings, and I liquidated some investment accounts.5) The contract close date is 3/24/17, I'm pushing for 3/17/17 and I plan on having a tenant in the place by the middle of April.Lessons Learned So Far...I should have started sooner, I should have maybe looked at more duplexes because there were some cheaper duplexes that were available and could have met our requirements. 

Alexander E. thank you for the information!

It took about 4 weeks to liquidate the brokerage account, transfer the money to a SDIRA custodian (IRA Services Trust), and get the money wired to the promoter.

Jarvis Smith I've talked to multiple HM Lenders who will only accept liquid funds, i.e.

Now if you are strictly doing flips then it may be more effective to only knock on doors that are one of the following:Sheriff sale propertiesPre foreclosure 90 day late 2+ year late taxes Code violations Owner occupied evictions (usually multifamily) Expired listings FSBO This is more time consuming and requires route planning but for flips this is the list of people who have a higher chance of having distress & would give up equity to solve that  problem & close quickly. 

It makes sense that this money be liquid to use at a moments notice, but it'd also be nice to get a return on this money, wouldn't it?

Make sure your purchase agreement has an expiration date in case something goes wrong.

They are low income, built 20 years ago using tax credits that have now expired.

It usually looks like one single large apartment complex composed of 4 -unit buildings that is gated, shares parking, common areas, and sometimes has a pool.Here is an example.http://www.realtor.com/realestateandhomes-detail/2833-E-le-Marche-Ave_Phoenix_AZ_85032_M22535-23255Notice that the HOA fees are $7740/year, or $645/month.