I have 1 rental property in Summerville and just bought a home in Seven Oaks that I am currently renovating.

An NBC News measure of home buying difficulty shows that Hennepin County, where Minneapolis is located, is the second-easiest county to buy a home in compared to the seven counties adjacent to it — even though Hennepin is the most populous county in the state.”Great damn job Minneapolis!!!!

If they have low credit scores, shady history, and lots of heartbreaking stories, they don't have the money now, and they won't have the money after, and you will be sad to discover this one month down the road.

Most of my clients started there and the horror stories are aplenty.  

Anyway, long story to better understand why you wouldn’t be comfortable with this. 

So long story short we have a traveling nurse staying at our rental that got some water damage when the roof was being replaced, they don't have renter's insurance (which we require in the renter's agreement they sign), water damage has been remedied and is cosmetically minimally affected and still very much in a liveable state.

Again if this is a wholesaler who is assigning the contract, that's a different story and very well could be a situation where financing is not plausible so I would begin there.In terms of the strategies you are contemplating I don't understand the process of purchasing with the $200,000 cash on hand and then refinancing 75% of the purchase price 6 months later?

I was curious and asked the questions here on BP and asked for real-life stories: "Thank God I had an LLC!

In this business you hear sob story after sob story.

If you do decent research or have traveled to the area the story tells itself.