Instead of discussing the possibility of owner finance with sellers - what if I offered the opportunity to  JV where they are the equity partner?   

@Craig Holland Land is often sold with owner financing, in part because buyers have a hard time financing it, and in part because buyers often only need a short time before they can build on the land and refinance out of the seller loan. 

I see little benefit in the FHA as an option as long as the 5% conventional loans are available now.  

Yeah my goal is around 30% but its hard to achieve, especially using a hard money loan.

This seems to be a VERY good deal for a BRRRR and I think you should be able to find a local lender (bank or credit union) that would finance this with a DSCR loan.

You don’t have to pay $20k+ to learn to broker loans. 

Contractors have difficulty getting loans, and you could be the money guy. 

I spent years there in Jackson did probably 1000 flip loans to locals and owned at one time 200 sfrs..

Plus, multifamily often appreciates faster in growing markets.Challenges: It’s a steeper learning curve—financing is trickier (think commercial loans), and you’ll need to understand occupancy rates, maintenance costs, and tenant turnover on a bigger scale.

FHA loans follow very strict guidelines when it comes to property condition.