The tenant owes pretty significant amount of money.

There were multiple mortgages attached to the property after the auction and throughout four years, by luck, I was able to fix them with little money down and lots of headaches.

That money is at risk if you don't actually complete the purchase. 

My strategy right now is to sell the land to a real estate developer to develop the home at a steep discount ($150,000) but make a claim on the stake of the overall project to get my remaining money back, plus the profit of the build. 

I'm feeling like yes, having her reapply, seeing when her unemployment runs out, money in the bank, current job search status.

Specifically, I'm looking for insights on:Finding a reliable hard money lender who can finance the entire purchase and rehab costs.Strategies to present this deal to the lender to increase the chances of approval.Any potential pitfalls or things to watch out for in the BRRRR process, especially given the foreclosure status of the property.Tips on managing the rehab while tenants are already in place.Thank you in advance for your help!

Let the money talk. 

Is there a financial vehicle where I can park that money and only pay taxes when I make withdrawals? 

You make more and more money over time.

Depending on the location STR is going to make the most money because condo rentals are an attractive option due to the amenities.