To me at my current knowledge level, this deal only works if taking over the loan - to limit the out of pocket money to acquire the property since the outside reno and new septic would take up the bulk of rehab costs. 

I am willing to pay to leverage their connections, especially considering I am looking for my first out-of-state deal.

from my advice rural properties and developments aren't successful and you are climbing an uphill battle. sounds a little niche. we focus on developing and not reinventing the wheel. if this is truly what you want to focus all your time and energy on then visit the closest 5-10 of these that look like the ones you are interested and ask if they'd expand or build a secondary one. do a lot of research before you just take action 

I see mostly out of state or out of country investors working with New Western in Birmingham because they don't have the knowledge of the city and surrounding areas.

@Lawrence MitchellIt’s great that you’ve built a basic understanding of real estate investing!

While leasing is the front door to maintaining a property’s occupancy, renewing tenants is the back door.

I currently live in it as my primary residence but had plans to eventually rent it out and then cash out refi once I reach 20% equity in the property.

@Jon Luft if you're looking in FL around the Tampa Bay area, reach out to @Josh Green!

Is getting a cash out refinance a better way to do it instead of getting a HELOC?

Should I reach out to local agents, wholesaler like New Western?