Hi Rick,DSCR is a great option given your circumstance.

And yet, you might be surprised how much foolishness you’ll uncover if you peel back some onions… one thing that I learnt from all these syndication mistake that is that before joining "such private club" is that "I thought I know most of the risk but I found out any investment project (even outside typical syndication) can fail to some unknown circumstances"......from plumbing to comps ............ there're just so many that i don't know. 

The boss.Although in certain circumstances I could see someone wanting to have an attorney who really takes the reins on the deal. 

FHA & VA allow for a "Change in circumstance" for example you are moving, changing jobs requiring new location, new school, enlisted military, divorce, other life circumstance outside of your control.As far a penalty due to no intention as using from the start of the application.

circumstances.. education.. personality .. innate abilities.. lack of understanding basic math..desire .. drive.. familial pressures..  

That is a distinctly different set of circumstances from Texas tax sales that I'm somewhat familiar with.Which of the two scenarios is closer to the OP case?

Throw in low offers and some people will be motivated to sell due to life circumstances.

Though I would foresee this in very limited circumstances. 

I have yet to hear of a circumstance where a lawsuit wasn't pursued just because they could immediately find the beneficial owner.   

In most cases the repairs will have to be complete prior to closing, but there are some circumstances where the lender will permit an escrow holdback to allow the repairs to be completed after closing.