@Matthew Anderson is correct - not the issue I would be taking advice from strangers on the internet. 

Contacting a complete stranger telling them that you want to buy their house, fast, easy, etc.

Depends on if you want your money back, and how would you explain to the judge that “I handed over 5K in cash to two strangers while, ‘giving them an offer they can’t refuse’ (in a Chicago 1950’s Gangster accent) “.

If he will even provide real financials to a stranger, it might take quite some time for him to collect them; we could risk losing out to a competing buyer/broker.

How comfortable are you going to be with a houseful of strangers around your kids? 

For buyers that can't get a mortgage, it's still cheaper than a HML.Thank you Rob K for this information, was an utter stranger to me.

Rather than ask strangers on a forum for advice you should be getting connected with a financial advisor that is recommended by someone you trust, hopefully a trusted individual much much older than yourself.Find a professional advisor that is not employed by a bank.

I‘m not a fan of sharing my house/apartment with strangers, specially since we will have a lot of family staying at our place.

Room mate situations are transient by nature and can be extremely volatile due to personalities of strangers. 

Examples being tenants complaining about other tenants, living so close to complete strangers (I guess it's only for a year), and a higher rate of tenants coming through.