1) Stop looking for rehabs until you're in a better financial situation. Rehabs always cost more than you think they will.

2) Start looking for properties in good shape that you can purchase at wholesale. I explain quite a few ways to do this in my book, '26 Ways' (click on the link below), or you can find several other courses on locating motivated sellers here on the reidepot site.

3) As soon as you have a contract on a property, locate an investor to sell it to. Post here, post on other forums, run an ad in the paper, call your local investor club. Move quickly, time flies.

4) Assign the contract to the new buyer, or find a closing agent that can do a simultaneous close. Either way, if you buy a nice property at 60-70% of appraised value, you'll have no trouble reselling it to your investor buyer for $5-10,000 more than you paid for it.

That's the basic formula. It's not hard to put 5 grand in your pocket 30-45 days from now, but the key is buying it right.

Hope it helps!
Related link: 26 Ways to Buy a Pretty House Below Market Value