I'm in a strong financial position, so if there is a loss, I can handle it.4.

Be sure to have a financial cushion for those.

Also do you have already a contractor team to work with for the repairs, and i will think about also if things do not work the way you plan them can you make the loan payments every monthwithout any financial problem, can you affort it even if you do not make any money from it within the next 3 or 6 months?

It's my only property at the moment, and I'd love to find a way to refi out of FHA or structure a deal in which buying another property is possible.My financial details: $32k in savings, steady income of $45k+ per year, mortgage on property 1 of ~ $1900 (including PMI, taxes, insurance).

They are interested if it makes financial sense.The third buyer wants to rehab the property to capture the ARV.

My mom can be pretty lenient at times depending on the resident's financial circumstance at that time, but she always makes sure that she is firm in the need for the resident to have the rent money ready as close to the due date as possible.

I put this video together to get leads from Financial Planners.Sellers with no equityTenant Buyers with good income.http://www.youtube.com/watch?

With your financial scenarios, neither of these look like you'll have cash flow at these purchase prices.

All that I mentioned are financially compliant for mortgages, they are accurate using the correct formula on a 360 day year. 

Please never speak of zero interest loans again :) they cause imputed tax rates that, to some sellers, if brought up and suggested by you, can backfire on you from putting them in a financial loss down the road.