Then financing for the horizontal ( toughest in my mind to get)Lastly vertical construction funding.and if this all lines up TIME  most places its 1 year to 5 years to get a project approved and ready for vertical.

They cant approve your short sale because there is no sale to approve.

Finally, my husband and I were pre-approved for our first deal.

What we do at the bank and with most banks is either get your builder approved or we can provide you a list of the already approved builders that have built successfully under the program.If you trying to get started the first thing is get your Pre-approval set up and start the processing.

All of that work would of course follow the NEC, local code requirements, and be inspected by an approved electrical inspector.

My go-to HM lender has approved to finance a purchase that needs some minimal work, like a month or less worth of work. 

A Cost Segregation study is an IRS approved federal income tax tool that increases near term cash flow by utilizing shorter recovery periods for depreciation to accelerate return on investment.

I'd imagine there isn't enough time to get a conventional loan approved for the property before the auction date?

If the HOA needs to approve each tenant that could add a layer of complication that may not make an MTR strategy worth it.

Some require a pre approval before any principal curtailment.