@Craig Holland Land is often sold with owner financing, in part because buyers have a hard time financing it, and in part because buyers often only need a short time before they can build on the land and refinance out of the seller loan. 

they just aren't going to shine until after you've owned them for 10+ years.i'm personally trying to buy on seller finance right now. 

If you offer more $ for the property than the all cash offers AND you appear to the seller to be highly qualified in the method you are using for sourcing the payment, at some point your offer will be more appealing than the all cash offers.I don't understand why you would consider a 1031 for another property in two years. 

If everything in the neighborhood is 90 DOM (market dependent)..

They will match effort for effort jumping on seller calls and helping you close deals, walk you through contracts, make connections to attorneys, etc.  

Issue is, in these "bad" deals the government comes after the lease option seller for predatory lending practices and the eviction / foreclosure process is a nightmare.

This is also why you will see most deals in the not so favorable areas as it is easier for them to prey upon those sellers.

-How are arrears handled, how do you ensure once arrears are caught up that seller doesn't walk on you. - Can you do subto with a lein on property.

The seller said this is in a gentrified area so there's potential to rehab this effectively and get a high payout as shown in the last comp.

If rates come down at all I predict we’ll be back in a strong sellers market (competitive offers, steep appreciation etc) because inventory is still low.