I had not considered that 3rd option of taking out a 2nd mortgage.Its amazing how many options there are in terms of how to get my initial money down and where I might want to invest and how (flipping vs rental income).

The more I learn about RE the more leveraging your money seems to come into play and trying to minimize your initial investment and even pull money out to do more deals makes sense.At my RE meetups it seems like creative financing is really how all the pros do deals.

You could also look into getting your own license, it will likely cost you about $1500 initially and $2-5k per year to maintain, but if you’re not actively working as an agent and building your reputation, your deal flow may go down as other agents don’t always like working with part-time agents, just like they tend to blacklist the discount brokerages.

Back when I went through they offered like a study group session at the end, do they still do that?

All proceeds from the sale would then be split 50/50Given that I am still a newbie I was initially skeptical about buying the house as well as contributing the funding for the rehab while he contributed no actual money out of pocket on a 50/50 split but his justification was following.1.

We don't believe we necessarily need to form an LLC for this initial investment but would love more in sight into the proper process of pulling this off.

How do I find a good actual value insurer that will insure to my after-repair cost and not my initial purchase price?

The numbers in your example most likely wouldn't work as a brrrr deal as you would not be able to refinance out your initial 35k investment without over leveraging.

In my case, I may be able to get the initial funds, but I'm always hearing about folks in worse financial situations than me that worked with hard money lenders, etc. 

In my case, I may be able to get the initial funds, but I'm always hearing about folks in worse financial situations than me that worked with hard money lenders, etc.