Does the location stay the same?

It can be based on the ARV like you're thinking, actual LTV (as-is), or some other algorithm(s) specific to a lender's risk tolerance, experience, knowledge, etc.

What might need to learn how to raise money and form Partnerships where you stay in control. 

Best bet is to just use hard money unless you can stay put for 6 months.

@Stephen Herbert Way to stay positive.

If the seller has knowledge there was/is water in the basement, whether it's fixed or not, they need to disclose. 

If you want to owner finance then stay away from laymen of anyone only looking for a primary residence to call home. 

Hey Guys.Alright some Advice from those of you with knowledge in the field would be appreciated here.I have my mind set on getting my First Flip Done.Problem is like many of us here, No capital to fund it.So i was thinking,A) Get A HML just for the Down payment of the house and Use an LOC to fund the rehab?

I tend to stay away from them now just because I don't need to deal with them. 

But I'm not even that far in knowledge yet.