Your knowledge of contractors in the area3.

You see a boat jetting across the bay and then he walks into a luxury house.   

Perhaps the homeowner can turn back the deed to the mortgage holder, in lieu of foreclosure.  

Same w/ the folks down at planning & zoning, they're super helpful. i'm in knoxville so happy to talk property specifics. sounds like a cool play. you'll be fine as an owner occupant and city STR rules.  

But this will depend on the area that you are buying in.

Maybe they will want to buy a house one day and decide to pay me off.

For example if the house is worth 400K, but they are willing to sell it for 375k because they are avoiding having to pay 25k in agent fees, then the bank can consider the equity gap as a down payment.

Hi Nancy, I have sold property for clients in Carrollton.  

They aren't in a hurry and I've looked at similar units sold in this neighborhood and they're asking a very fair price.

Fees should be clearly stated in writing, easy to understand, and justifiable.