I was willing to go up higher on the price as well as remove most contingencies and am convinced that if given the opportunity I was willing to out pay the eventual purchaser (I would have considered going up another $50K even if it could not be financed at that amount - obviously I was willing to remove the finance contingency). 

You may or may not be able to see the property in advance, may or may not get an inspection contingency, etc.

When you get a contract on the first try to extend the closing date on it as far as possible or even sell with a contingency to get the others under contract.   

if you're ADAMANT that there be an ongoing maintenance agreement, you can make your purchase contingent upon the Seller acquiring it from the neighbor, but don't be surprised if you lose your purchase over a move like that. 

Given how early students sign in advance of the next school year, I’ve signed leases prior to closing on a deal — leases contingent upon closing. 

For residential lending, try to lower income through the use of entities, then go on income contingent payment plans, then borrow through Fannie Mae's program that allows for the lower monthly payments for calculating DTI.For commercial financing, use the entities to pursue commercial financing based on the target's financials not personal debt.Either way, shoot for a 800 FICO while starting an entity or few, season business credit and leverage flexibility in income, financing, taxes and other benefits!

Is it as simple as establishing contact, creating a relationship and drawing up a purchase agreement (obviously with title and inspection contingencies)? 

I have been eyeing Cleveland for over a year now and cannot get the numbers on any props to get much past 25% (and normally closer to 15%) unless I throw in earned equity, Cap Exp, and repair contingencies and count those as profit. 

Sounds like the contractor/owner stopped midway through because he ran out of money.We are looking to make an offer on the deal, with the contingency that the owner/contractor will complete all work necessary to make second unit rentable and have exterior landscaping completed.

If this happens, you will have to use your contingency clause to back out of the deal with the seller.