Has anyone done anything close to resembling this?

Some buildings I saw that resembled triplexes ended up being condos/townhomes.

Our market is nuclear hot, which means that if you have anything even resembling a deal (and it doesn't even have to be one), it will sell in a heartbeat.  

@Tom Gimer Title company is resembling crickets as of now, I’ve already tried contacting them about the issue.

The statues in Minneapolis pretty much resemble the exact rules you specified and they never state that you must have a closet to be considered a bedroom.

Those flippers I know that are succeeding buying off MLS have a few things in common:They act fast ... as in anything remotely resembling a deal that is on the MLS will have multiple offers by noon on the day it was listed.They are all cash buyers, and that cash is usually their own, not from HML so their carry costs are lower.Some, but not all, have their own full time crews, so they can complete jobs faster and cheaper than others, making both their rehab and holding costs lower but they deal in large volumes.Some, but not all, are more developers than flippers, adding bedrooms and bathrooms, to popping the top to add a story, all the way to scraping the whole house and building new from the ground up.

As a had close friends in Rochester, my out of state investing resembled a mixture of your options B and C in many respects.  

That part of the city has absolutely exploded in terms of desirability and prices.  2 years ago was about the last time to purchase down there for anything resembling a reasonable price.  

Waiting for them is probably better than hiring the guy who is available to start tomorrow but won't finish in anything resembling a reasonable time frame.3) You're smart not to hire family.Finally...

Long story short, over the past year I've patched together a few deals that loosely resemble wholesale deals.