Then get a GC to give you a tight proposed budget to restore this old beauty back to it's former glory.This sounds like a $200k - $300k remodel at least.

Owner sat on the offer for a week or so and then I got a call that they accepted. 

You would then simply transfer it back to the named borrower.If you wanted to decrease the DOS issue, you can transfer to a revocable trust with the entity as beneficiary. 

If anyone finds a deal that meet the criteria Jerry is looking for then contact me and I will take it and pay you 10k and you wont even have to pay anything up front.

When I buy an occupied property, I introduce myself to the tenants on the day of closing; then, I inspect every unit within one week.

But if you are looking for 1-4 units residential purchased by an individual then PS is a great place to find a list, skipt trace then cold call or text. 

When it was all said and done I still ended up being able to pull about 5 to 10k more out of it than I put into it.Current mortgage including taxes and insurance is $1,519 and it's currently rented for $2,546/month.Yes, you can buy a house at auction that you then flip and sell for market value.And yes, I have participated in online auctions.

Then the seller is holding a note for 5 years.

Please use an attorney to write these documents - this is the equivalent of going to see a dentist in the van down by the river - it's great until something goes wrong and then you could be completely screwed 

To play devil's advocate (and keep in mind I have no skin in this since I'm in a different market):-You want to tailor to investors, then be prepared to sell at an investor price.