From my research, I saw that a land contract will be more suitable for this, but not sure.The purchase price is $400K and would like to finance it for 10-15yrs, plus a balloon at the end.Your input would be greatly appreciated! 

SFH are all priced out of doing anything and the fixer uppers available are really more suitable for demolition because they are hacked together improperly built junkers.

First, if you haven’t already, you need to get educated in your chosen asset class to make sure the properties you are finding are suitable for syndication. 

If your offer is submitted in writing, whether or not the listing agent feels the offer is suitable or will be accepted, they have an obligation to present it to the seller.

If you plan to buy and hold, you'll also need to have a suitable DTI ratio and a high enough credit score to obtain a loan.

You can go to the beach but not park near the beach, sunlight and heat is supposed to kill the virus but you can't sit on the beach alone you must keep moving, you can shop at Target but not HomeGoods, you can stay at a hotel but not a small cabin suitable for only 1 family, liquor stores can remain open but our local candy store can not.

Build a house that is suitable for the area and it will appraise accordingly.

I would keep saving money and researching in the mean time as well as there is no telling how long it may take to find a suitable lender for you. 

They, however, did say an option could be to come up with a plan for a system that would dispose of sewage water to another area of suitable soil or off-site to an additional property.It's 2 lots, with one being a corner lot, in a subdivision, on a street with a cul de sac.

Alternatively, flipping mobile homes could also generate some good returns if done correctly but may not be suitable for someone with limited funds as it requires quite a bit of capital up front.