I think that's the only way I could conceivably do this (for the time being) but glad to know it's possible if you do some leg work. 

If your buyer has a good lender, all that's required at that point is an appraisal and underwriting so it's conceivable that you can close between 100-110 days to an FHA end buyer.Conventional loans may require a second appraisal to justify the collateral if the property is sold within the 90 day window.  

If you can conceivably buy with cash and fund the rehab out of pocket, you can refinance right after the rehab at 75% LTV (with some limitations) using a loan under the Fannie Mae Delayed Financing Exception.

Southern Nevada, Arizona, Southern California, Northern Mexico were not expected to be what they are back in the 1930s when the Hoover Dam and accompanying infrastructure were conceived.

@Vuk Dulanovic"What your mind can conceive and believe it can achieve!"

This investor is not merely interested in storing wealth; he/she needs to create wealth.If you are in the first group, then conceivably you can do TK.

@Ben Leybovich In 2014 did you conceive in your mind you would control more real estate?  

Next time, perhaps record a 'notice of interest' or whatever you state deems proper as soon as you have valid contract, to constructively notify the public that there is something happening with the property that must be addressed before title will be clear to close.Other than that, and/or threats of suit to the seller, I just can't conceive of ANY court that would force specific performance upon a 92 year old owner living in their own home. 

I actually have 10 props financed, but only 7 are 1-4, the other 3 are commercial, which I've just been told don't count toward FNMA's 10 limit, so I could conceivably re-fi 7 and get 3 more...Have you or anyone heard of 20-30 (or even 15) year financing for plus 5 units?

I am trying to conceive of a low out-of-pocket scenario to get into a third rental and see scenario as a potential opportunity.