Investors buy here because of strong jobs, strong rent growth, strong appreciation and the future cash flow but honestly many of my clients are playing the long buy and hold, appreciation game.

I've been in the game for over 20 years, mainly in Tampa, Florida, and it's a fantastic market for both cash flow and appreciation.

Remember this little nugget: There are 3 things you need to do to win the money game.1.

Mail is a numbers game.  

this would change the game drastically.. in the amount one could pay for the property at the sale. hope this makes sense.Also @David Krulac stated that these liens get paid in a certain order..

Everything you suggested was the original game plan the house will be a rental or air bnb and the land was bought with the intentions of having tiny hones put on it.

As for why the way it was explained to me it seemed feasible to do, even this late in the game. 

With current rates, inventory and demand you may have to bring a little extra down payment.But real estate investing is not a great cash flow play, it's more a net worth game.

Do you think this type of financing is a game-changer, or are there pitfalls to watch out for?

It sounds like you're ahead of the game here because you're focusing on your local market, which certainly makes things much easier.