Focus on education, networking, and analyzing deals carefully to ensure your first investment sets a strong foundation for future growth.Good luck!

You can also find reliable, more than worthy, creative, legal and ethical basic as well as advanced real estate courses on line!

If they’re really in a bind, you could even explore something creative, like seller financing or a subject-to deal (where you take over their mortgage payments).

If this isn't required, then most likely having the GC sign a completion guarantee to ensure the project gets finished and lender is not stuck with a partially complete asset is the case. 

Are there other creative options I haven’t considered?

You can get started with rent to own/lease option or another creative strategy like buying subject to. 

This ensures a clean transition of ownership and responsibility for insurance purposes.

Does anyone have any other creative ideas?

Buying and rehabbing ensures you grow at a pace you control. 

Best way is to consult with a tax advisor to ensure compliance with IRS guidelines.