Downpayment, closing costs, holding costs (loan payment, utilities, insurance), money to front the contractor to get started (you get back after the rehab is done). 

There is a triplex property in Arcata close to the university for $370K.Food for thought.

If you want to invest for the long term, stay close by and buy a place in a great location.  

Put out signs and lockboxes for realtors.Cold call for a realtor or investor.Create a handyman or property preservation business.Become a notary, so you can close real estate transactions.Go to work for a courthouse data service, so you're looking at and recording the posted data for them.Work for an apartment complex leasing apartments or doing maintenance.Work for a property manager doing make ready.Do anything and everything in construction.Become a home inspector willing to work weekends.Work as a sales rep or helper for a builder.Probably all these positions could use someone that wants to work nights and weekends.   

Most title companies won't do "double closings", but they will do wholesale fee closings.

If you don't have a ton of cash then NJ may be tough for you due to high price points (looking at 150k minimum for down payment and closing cost).

How do closing costs on a private money loan compare to a traditional conventional bank for a brrr?

Pros:Stable Income: These facilities often sign longer leases, providing landlords with a more stable and predictable income compared to traditional residential rentals.Higher Rent Potential: Because these facilities generate income through the services they provide, landlords might negotiate a higher rent than standard residential properties, reflecting the commercial nature of the tenant's business.Lower Tenant Turnover: Residential assisted living facilities tend to have lower turnover rates, reducing the frequency of vacancies and the costs associated with finding new tenants.Social Contribution: By renting such facilities, landlords contribute to addressing the growing demand for assisted living and support services, positively impacting their community.Property Maintenance: Tenants in this sector often maintain the property well to comply with regulations and ensure a comfortable living environment for their clients, potentially reducing wear and tear.Cons:Regulatory and Compliance Issues: Facilities must adhere to strict regulatory and compliance standards, which can involve the landlord in complex legal and zoning issues.Higher Insurance Costs: The nature of the business might require additional insurance coverage, potentially increasing costs for landlords if they are responsible for carrying this insurance.Modifications and Upgrades: Meeting the specific needs of an assisted living facility may require significant property modifications and upgrades, which can be costly.Market Limitations: Should the lease end or the facility close, the specialized modifications made to the property might limit the market for future tenants, potentially requiring substantial investment to revert the property for standard residential use.Operational Oversight: Landlords might need to monitor the facility's operations more closely to ensure compliance with lease terms and local regulations, requiring more hands-on involvement than traditional rentals.

I'm currently about to close on a wholsale deal for $222k, purchased with an 0% down HML loan (using other propteries at collatoral) and the plan was to rehab, refinance out of it but the lender requires 20% down to refinance and so we feel our only option is to just flip once renovated.

Also, banks are lending with lower leverage which means investors are required to bring more cash to the table to close.