There was some negotiation but mainly around repairs that were needed to be made.

Little did I know, this purchase would be the catalyst for my entry into the realm of real estate investing.

If you want to develop it, I can refer you a lender that will lend on a completed subject to appraisal but you'll be limited if you just want it for the lot.If you simply want the land as part of your property, you have more options including a HELOC which you can still use for development down the road. 

The builder offerred $15,000 credit to be applied, however you wished EXCEPT can not be used for price reduction. 

I went to MFIN in Houston and there seemed to be a decent amount of investors

It's two seperate transactions for tax purposes,  neither one changing the outcome of the other just because they occured at the same time... in theory it would probably be better to simply have the amount of the commission deducted from closing costs if at all possible, but if compensation was already being offered througu listing broker, it is what it is.

It is easy to provide well-intended 'bad' advice.My questions to you would be... 1.

With that said, it's best to START it like you're going to outsource everything, so it will be easier once you decide to make that transition.

There will be an auction in a couple of weeks of properties located throughout Monroe County and I want to take part.

Once you get a mortgage later, that home would have to be bought personally since only people can get mortgages.