The bank says they will loan on either the purchase price or the appraisal price - whichever is lowest.  

Whichever course or niche you decide on, I would highly recommend that you first read at least one book by authors like Napoleon Hill, Bob Proctor, Jim Rohn, etc. because if you don't first understand the concepts that these men teach, you most likely will fail and then blame it on the course or the teacher.  

It is 3% of the accessed value or winning bid, whichever is higher.

A lender will only lend on the purchase price or appraised value whichever is less.

Find someone who can mentor you and you could incentivize it with offering 50% of the net profits whichever route you go.

I will refer you to an Accuplan agent if you like with options for low fees or total checkbook control - whichever you like better.  

Just looking for advice to be pointed in whichever direction may work

Where this is a local governance bylaw, you will find communities provide a variety of ways to regulate the size and occupancy of an accessory unit.Here a accessory apartment in the basement of a single family dwelling must conform the the following:(a) Where permitted, basement apartments shall: (i) not result in more than 2 dwelling units contained in any converted single detached dwelling; (ii) be secondary to the main dwelling unit, and not exceed 75 m2 or 75% of the floor area of the basement, whichever is less; (iii) contain a maximum of 2 bedrooms with the floor area of each bedroom not exceeding 15 m2 ; (iv) be completely self-contained; (v) require 1 on-site parking space, in addition to the normal requirements of the zone; (vi) not permit a group home, tourist home, home occupation, child care centre - small or child care centre - medium on the same lot. 

As a General Rule, my Desired Profit is $20,000 or 20% of ARV whichever is greater.

You can have banking for down payment with which ever bank who is a member of FDIC.