Or are they leasing a commercial parcel you've purchased for these purposes?  

Termination right if STR no longer allowed, profit sharing, purchase option or ROFR, length of lease and lease options, how to handle major repairs, who pays initial investment in upgrading property, etc.P.S., this is also similar to co-working locations where the operator signs a master lease with the building owner and then rents out cubicles to individual customers.

He then substitutes the collateral, i.e. retires the $380k seller financed note exchanged for the $380k note he purchased for $260k.  

Purchase price: $80,000 Cash invested: $72,900 We have less than 2 weeks left in our fix and hold project in Pittsburgh, PA.

I find good deals more often than I can afford to purchase them.

Petscreening will ask the appropriate questions to ensure the applicant is not using a fake letter or registration purchased online.

How are you planning to finance the purchase? 

I’m still saving for purchase price and reserves, but while I do that, I heard on the podcast to try to just analyze one property a day and after a month or two it’ll become much easier.

I have read a few introductory books on real estate investment, and I am now looking to take steps towards purchasing my first property as I love to greatly research anything I want to start doing.

I'd suggest trying a few different lenders in your market to find one better equipped to support you purchasing with a VA loan.