What made you interested in investing in this type of deal?

I just have a few questions about this type of loan. 

What made you interested in investing in this type of deal?

These types of loans are investor friendly, do not impact your personal credit/DTI, and can funnel everything through an LLC, or some kind of entity.They can do it through SFR refinances, or even portfolio-style refinances.

What made you interested in investing in this type of deal?

Having to do plumbing or electric work in those type of buildings can be very costly and eat all your cashflow and reserves. 

To my surprise, the listing agent told my agent that the homeowner was just trying to get asking price, so I quickly told him let's do it and we offered him an even $750k CASH (I have this liquid and was not doing any type of financing whatsoever).

Whether or not your existing policy would provide coverage may depend on:1. type of policy2. are you charging for the rental3. are you renting to a non-tenantIf it is covered, you need to work out waivers and contract language with your attorney. 

Another way to back into the a price a developer would be willing to pay is to figure out the best use of the land, hard and soft cost to build cost, holding cost, and profit margin.I'd suggest a realtor who specializes in that type of product with active clients.

States have different requirements for licensing (and the TYPE of license) based on whether you will be earning a salary or commission.