Actually fairly common, depending on what you're looking for property wise going forward. 

You can secure the property with a promissory note drafted by a lawyer or a title company, but keep in mind that “taking back the property with the note” as it is often pitched by gurus is not always actually that simple.

I've heard of Monday but haven't actually talked to anyone who's used it.

I like storage units, that's actually a good idea I didn't think about at first. 

The actual penalty varies but it's often a step down or if a 5 year prepayment penalty term, it will be 5% of the original or unpaid mortgage balance if refinanced or sold in the first year, then 4% in the second year and then on down (the exact penalty varies which is why I mention both the original and unpaid mortgage balance.

Here's a framework I’ve used with clients and in my own deals:Understand Your Total Investment:Break down your actual contributions: $40,000 from cash, $50,000 from the 401k loan, and any additional transaction costs.

I’ve actually had a number of people exercise their option and get a loan and buy the house.

That should catch most of these issues.Some, you'll never know about until someone actually lives in the property. 

You absolutely CAN use simple free social media posts to get traction, but it requires posting actual value pretty much 4 to 5 times a week,  posting about things a motivated seller would be interested in.

I am actually looking at a house that is not a Victorian but needs part of the home bulldozed and a ton of work done.