It seems like you just really wanted this property so you let your emotions drive your offer.

Drive around and figure out a few areas you would like to live in with your budget.

I actually think your company, Drive Home Capital, does have a good track record in the space.

This limited inventory will likely continue to drive prices upward.Sales - Median $/SF by MonthThe $/SF decreased slightly MoM, conforming to the seasonal trend.

This influx of workers will naturally drive demand for housing, retail, and other services in the surrounding areas, especially in smaller towns and cities that haven't seen major growth in decades.

Freddie has similar intricacies, but also does not require a two year history of receipt; https://guide.freddiemac.com/app/guide/section/5306.4If you can use the rental income to drive the DTI down so that you can reduce the down payment similar to that of the FHA product, the benefits of the conventional option will outweigh the FHA option, as I'm assuming you have a strong FICO based on rate quoted with no points.  

An in person meet (even if you have to drive 4 hours) would be the best way.

It is possible, but you have to put in the work; driving for dollars, mailer campaigns, cold calling, building lists, etc.  

. :)Anyway, I like your strategy of driving and looking for houses in need of repair and sending handwritten letters and contacting rentals for the reasons you gave.

I don’t know much about the Australian market, but your curiosity and drive to learn are inspiring.