@Alexander Felice agreed, all circumstances are different.

Low-ball offers can be effective in limited circumstances - Off market ( which are typically uneducated/distressed), bank owned, and really weird properties.

We have bought land before it goes to Auction before, but never under these circumstances.

Also very important distinction between the 2 will likely be how much downpayment you are wanting to use. 

In a way, we're trapped in our current home even if we own it free and clear, which is an odd circumstance.

I have an LLC set up and my question is twofold. 1) I understand putting this property into the LLC could trigger the due on sale clause, but my mortgage says it will allow "under certain circumstances" the transfer to another person.

Under the circumstances I doubt there would be any pushback from agent or broker on a request to sever the relationship early.

@Patrick Hall@Linda Weygant@Yonah WeissThe distinction is between (a) Individual Retirement Arrangements - IRAs and (b) Qualified Plans (e.g., 401k, profit-sharing). 

I have a couple other reading lists that pair well with real estate investing and running a real estate business (two distinct disciplines!). 

Would I be able to qualify for a 203K under these circumstances?