So it could take a decade to get to todays market rent. 2) it’s almost impossible if not impossible to non-renew a tenant, especially if you’re not an owner occupant. 3) As a seller, even if I could remove paying tenants I never would without a non-refundable payment from a potential buyer that covers all vacancies for 6 months if they fail to complete the purchase. 4) You MIGHT say as a buyer that’s worth it.

Those with little to no experience should have even larger amounts of reserves in place before they purchase real estate. 

Pull the vacant properties in your area and call the owners.  

However, you have to be extremely careful financing 100% of the transaction as you still need reserves, closing costs, etc. and make sure it cash flows.You didn't mention if this would be a rental or owner occupied. 

They think they can make a few bucks by increasing the payment and selling on a Wrap for a little more than they are buying to the next guy.

I am about to do one of my first ground up construction projects with the intent to rent in the area of Athens a little further west. 

You'll have access to owner occupied loan products, therefore saving on your down payment, typically 3-5% compared to 20-25% for non owner occupied properties.

The lender just records the warranty deed and is the owner of the property.  

@Jeremy H Barton - I'm an investor, flipper, and property management owner.  

For an investment property (purchased as an owner occupant), that is insane.