Midterm rentals and vacant land development sound like exciting avenues, and I’m sure you’ll find plenty of support and insights here.

The problem is I Don't know what kind of contractor is nessary or if it's multiple contractors.

Seller's response: He said, "Yes, I have heard of a land contract, but I’m kind of hesitant because I know some locals who land contracted their assets and ended up with a distressed property after a few years.

Quote from @Sarah Minor: Thanks for your kind reply.

And they will be scrappy by nature and certainly don't have that kind of downpayment laying around.Second, obviously is price.

- Our background check system flags the SSN as being issued after 2010Also, how DEEP is the accounts supporting the credit score?

The business agreement would act similarly if an STR manager fails to pay, but that kind of an agreement may be less familiar than a long-term lease to a long-term lessor.

It will be more money out of pocket to furnish it, but if your area supports it, might be a good way to keep from losing money until you can long term it. 

The fees and conditions also can differ a lot, so you should try figure out first what kind of apple do you want (DP, LTV, rate) and then bring them to an apple-to-apple comparison to see which one gives you what you need for what cost (instead of accepting all the fruits that are on display from each different DSCR provider).  

Stick to markets where you can set up strong support so you won’t need to be there in person much.