This is a great strategy for the area if you're close to the attractions in the city!

I read some where that I could sell the house to a 3rd party if I do a double closing and pay the owner what is owed to him and take my profit at the same time.

@Eliott EliasDo these loans cover down payments and closing costs?

Plus, you're talking a Brewery and restaurant; that will be a hard sale, unless the bank is local and knows your seasonal market really well. 

As we approach 2024, which markets are you all looking more closely at for fix and flip projects?  

I would also point out that it's unlikely the rates will come down close to 2.99% within the next year, so sitting on the sideline for years is a risk in of itself.Alternatively, you could get a 2nd mortgage that would allow you to keep the first mortgage at 2.99%.

I  purchased a home from a for sale by owner, with myself as the homebuyer and the seller navigating the process without a real estate agent.

It is mostly 2 loan closings as well have to keep in mind the loan costs. 

If I were you I would be looking at this as an opportunity to really negotiate price and other items that you want to make happen (credit back at closing, fully furnished and more). 

They handle the baltimore city tax sale you can see that at BidBaltimore.com.