The last lot we purchased was a good example of this - The guy bought it at a tax auction thinking that he would eventually build on it. 5 years went by and he still hadn't done anything with it, so when I texted him an offer that was good for us and netted him a decent profit he was happy to accept. 

So, you identify an asset and do your homework, make an offer with your pre approval letter from the lender, it gets accepted. 

If you are in Essex Co, that 460k will go for way higher, depending on the town.Step back, why do you want your first investment to be the biggest risk any investor can take by accepting the property and all of it's faults without having the right to make repair requests?

That fraud that I worked with previously would accept 18% gap funds of much smaller amounts from private lenders.

Our company won't accept, "addition interest" for this reason.Also, this is being misrepresented by the agent, since insurance companies ALL add lenders as, "additionally insured" as required per mortgage docs.

I have not personally come across any lenders that accept a least above what the appraiser said the market Projections are.

Accountants are in such demand, that the best are not even accepting clients half the time.The other problem I see often with accountants on here is that they specialize in larger investors, and have really high prices when you as a smaller investor do not need all the bells and whistles.Another thing I see is folks thinking they need to have a tax professional in their state.

The reason is two fold,  one, some PMs don't accept a major rehab and two you will end up paying around %10+ on top of the cost of the contractors to the PM to managing the rehab for you.

In a recent transaction, the agent verbally accepted our offer but for whatever reason refused to send us a contract. 

If not acceptable, start searching for a new manager and follow contract terms for termination.