Are there any private financing options out there to fund the properties and the rehab with buyer putting the 20% at sale and the lender funding the remainder before deed has been received.

The buyers backed out even after it passed inspection and appraisal, and I put it back on the market 9/18.

I am a serious buyer and looking to close within a week

The Option to Buy is a contract whereby you are "selling" to the potential buyer the Option to Buy. 

@Diana Muresan So, just to clarify all of this... as a first time home buyer who is acquiring a multi-family property, it is better to use FHA, save the cash flow, and then use conventional as you continue to buy more properties you the equity saved up?

Cash buyers are always a great thing. 

I'm not a Lawyer, and this is not to be interpreted as legal advice, however, here is what I see has happened:1 - Faulty Option contract made worse by Owner's actions:  Somehow, even after the contract to buy has come and GONE (my math says 2007 + 5 years doesn't include year 2018), the tenant buyer has been allowed to continue to make (and have accepted...BIG problem) payments on the Buy Contract. 

The house is currently listed at $385,000 and the sellers are willing to let a new buyer assume the balance of their loan (approximately $290,000 with PNC mortgage) with that interest rate.  

This becomes a big issue when buyers just starting out don't understand the tax situation and shop online based on price.

I will be moving to another state on a pcs military order in less than 2 weeks and I still haven't found a buyer for my home.