In our area, rents are rising much faster than inflation because investors are taking advantage of the supply-demand being in their favor and raising rents for that reason, not so much because of a rise in taxes, insurance and operating costs.

Sometimes favorable terms will push the purchase price up a little bit, but it still absolutely has to make sense as and investment.

It seems the term "open and obvious" is helping defendants (ie owners) receive favorable court decisions. 

Its also a odd shaped lot which doesn't work in the favor of any seller.  

The con is that I think HELOCs have less favorable terms.  

Indiana is probably more favorable only because of the distance to California.

My last employer I lost the match with the union contract favoring a Crappy pension(I was able to get a buyout when I left thankfully).

I am the owner, and I have a loan on this house, I have a Contract(s) with a Couple that we had setup through a Century 21 Real Estate agent, that did this as a favor to us to set up a Lease and Option to buy.

With solid w2 income and a good credit score you can get some very favorable financing terms.Good luck to you & see you around the forums.

Based on your description already, I would favor potential to renegotiate the terms of use or keep looking.