This is a new territory for me, Real Estate investing, but i have been familiar with it and been speaking with very successful investors in the area for the past few years as I have been studying up on the subject. 

From there, obtain payoffs on all liens and make sure your offer will cover closing costs and all lien holders will be paid in full.If your offer less closing costs will not net a full payoff to the lender(s) and lien holder(s) then you are falling into short sale territory which is going to require you to obtain approval from the lien holders to release their lien and settle on the debt without obtaining a full payoff.Both can be completed, but it depends on the specific situation and the status of the upcoming auction.

Does a reliance on appreciation come with the BRRRR territory, in that sense?

However, a vacation rental property is new territory for me.  

I have a lead on a SFH that sits on 4.5 acres of land. this is new territory for me.

As you stake out and cultivate your territory you will become familiar with the area, the market, what types of people live there, what types of people are buying there, what types of properties are being sold, and for how much.

When you go there, you leave the safety of the public eye and familliar territory.

Since many new home buyers do use FHA, it just comes with the territory.

I know it comes with the territory.

They can become territorial, and sometimes treat prospects as an interruption of their work...rather than the source of their paycheck!