Haven't found a deal that works for BRRRR. 

Wholesalers (no offense to those in the comments) who are doing this without being a foreign entity are probably co-wholesaling which is on the borderline and practically acting as an agent without a license or getting referral fees by having actual wholesalers on the ground doing deals and they just provide the leads which is different than wholesaling.

I've been buying and renting here since 2009, the deals are hard to find these days but definitely out there!

That makes sense that the lenders would want skin in the game, but what I'm wondering is for a 60k-80k total deal, it seems like lenders are wanting 40-50% of the total loan.

I'm leery of high leverage until I get my feet under me and some experience, so I'm aiming at smaller deals to learn the process before trying to hit a home run.

How did you find this deal and how did you negotiate it?

And sorry that you are dealing with a vacant property for such a long time.

Even if it's a total rehab if the land bank has a property in an area where the arv's are substantially high wouldn't that be a good deal or a promising neighborhood for buy and hold.

If they take it, make it a deal.  

It's a very competitive market there.I think your 203k approach will likely be a leg up in deal hunting as you'll be able to take on an investment that needs a bigger scope of work while others might be looking for a more standard value add situation.let's connect. i'd love to help however i can