What got me piqued was when I showed the owner the bite, she seemed indifferent (no apology or anything).

Hi @Barbara G. my apologies for responding so late.

Apologize for longer post and thank you in advance Jared  

James and Shanti Kandasamy, I didn't read all the comments so I apologize if I'm repeating what anyone else has said.

I don't know how much (if any) you know about reverse mortgages---I apologize for trying to think "out of the box".

And I apologize because there's simply not enough information (or time) for a complete and thorough discussion on this topic, which is why people need to seek competent legal help, (per-deal) if at all possible.The Cooperative Purchase fits a need and has been proven on the streets and in the courts.

Buy/Hold isn't in my cards yet, the operations/procedures are in the works, but the fact that there is the real chance of an impending flood of inventory; This tells me to hold off so I can pick up long term properties at the lower price where every dollar I can invest will go that much further.Some may say we've hit the bottom, but both Mike Jacka and I hold the belief that shadow inventory exists unsustainably.

The US population is on a steady growth path [immigration, impending legalization of 12mil already in the US].

You've asked a really good question, and apologies in advance for the length, and perhaps some brutal honesty.Let me first preface my response to your question with this: I live in Houston, TX and have worked in Oil & Gas for the last decade - I have seen firsthand the budget and personnel cuts that are affecting Bakken and Eagleford, along with the corporate downsizing and restructuring that is creating pain for many over the last two years.This is a really risky strategy, based on hope and timing.  

This from the VA Loan Handbook (copy/paste, apologize for formatting)...