In my case, I have relatives who are builders (in a different state) but have good connections with subs, etc. and I am spending the time to personally review all proposals (obtaining some on my own as a check), etc. so that I am confident that the cost incurred is appropriate. 

this is what i have so far: the sell price is around 300,000 (under), I'll be proposing 10,000 down, 30 year loan with a ballon payment of 7 years, 4% interest, $800/monthly payment to seller. 

I’m sure everyone has heard the proposals of a possible 25% unrealized capital gains tax.

When you get the sheriff’s proposed distribution of funds, there will be a copy of a title search that was performed by a title company selected by the sheriff; that title company is possibly the best place to go to ask whether you should buy a title policy - they did the search and should be willing to insure.

The Fed is only proposing 75 basis points in reductions next year IF everything goes according to their plan.

As far as your proposed solution seems like it should work in terms of getting you a “first position” HELOC.  

Grant funding can be up to 50% of total project costs of the proposed Development, depending on the need for assistance to create a viable development and adequate eligible project costs.

When I asked why a seller would ever accept this, I was told quite emphatically the property requires work and therefore nobody can obtain financing so the proposed terms were the only way the seller could sell the property.

Of course, your bid will be extremely important, but it would be a challenge to get to the point of executing a bid proposal if we aren't confident in much of the above items.  

They proposed higher than market rent, but want to keep 2 people from thee organization volunteers in one room in future.We checked the website of the non-profit organization, their program include several categories, including helping international children to school, housing for the homeless, etc.