We had to request correction of multiple other items that we did not feel were finished with sufficient attention to detail.

Insurance is great and absolutely required but it may not be sufficient if a renter or tenant comes after you.I have always suggested that investors go in highly leveraged.  

I am currently pondering between three options.1.

So, what it is it you would be doing beyond the three things I've listed that you think earns you a stake in the deal?

I am considering buying two or three lots inside Memphis that are about 0.17 acre.

https://finance.yahoo.com/news/exclusive-biggerpockets-nets-majority-investment-112817102.htmlBiggerPockets now has more than three million members and The Chernin Group (TCG) has made a majority investment in the platform, Fortune can exclusively repor...

I don't know how much they cost, but I can tell you whatever it costs, I have more than paid for a years worth of training through my learning experiences.Looks like your already an investor, so the following comment might not be for you.Growing Wealth takes three things:a. 

I am looking to find a low doc capital source to acquire them with a three balloon.

Off the cuff, FHA can be difficult with appraisals, sellers willingness, self-sufficiency test, life time PMI, & FHA premium.

Quote from @Shari Azama: I have never heard of making monthly payments in three separate installments.