From what I've seen and read, most of the reason operators get in trouble is that there is some type of "event" that has occurred (usually their loan has matured or they've defaulted on their existing loan) and they need to refinance their loan and the lenders require a new appraisal to be done, which usually leads to a lower appraised value, and a lower loan amount, which "forces" the owner to pay down their debt.

I’d also look into using an FHA 203k renovation loan, allowing me to buy something unqualified for a standard mortgage, which would weed out a lot of competition and push the price lower.

@Leslie Beiai think offering equity when what you seem to need is just a loan doesn't make sense.  

After two years, you can qualify for a loan or continue working the seller-finance angle. 

If you're looking for ways to accelerate, consider these options:Seller Financing – Some sellers may finance a portion of the purchase price, reducing your need for a large down payment.DSCR Loans – These loans focus on property cash flow rather than personal income, often requiring only 15% down.Private Money Lenders – If you can find a PML willing to work with you, you may be able to put less down.Partnerships – If you’re open to splitting profits, you could bring in a partner who funds the down payment.Since you’re okay with the slower path, just keep stacking cash, but these might be worth exploring to move faster!

I'm already in contact with a loan officer.

The FHA 203(k) loan is designed for owner-occupied fixer-uppers!

Have you leveraged lines of credit, private lenders, portfolio loans, or other creative financing options? 

If you're new to real estate investing and looking to get the best value, I'd suggest considering **house hacking** using an **FHA loan**—it can be a great option for first-time buyers.

These are active.Then we have held to maturity are our shorter term loans which provide us direct cashflow for us.