(Either with the roofing company, a heloc, or a personal loan.)Either way you will probably be way ahead on interest saved unless you have a sub 6% interest rate.

DIRECT MORTGAGE LOAN COMPANY6.

The deal will leave the seller at your sons mercy for decades (the life of the loan).

@Jon Ankenbauer you won't be able to keep the land separate from any future construction loan.

If you are willing to live in urban areas you may want to talk to a local bank in your market and see if they have any incentives or grant loans for certain areas.  

Name detection is via loan signatures.

Or, a carrier won't renew on a policy or substantially raises the premium, the homeowner can't afford the increase, loses insurance, the lender calls the loan due for lack of insurance.

Many Realtors will suggest purchasing a property using a FHA Loan, to reduce your out of pocket money.

I have two rental properties through the VA loan being military.

Hard money loan that covered 100% of rehab and 90% of purchase.