What are the pros and cons of such deal versus a comparably sized and located investment in a classic multi family (...where you own the building and land directly).Any resources you guys have that I can educate myself on?

Additionally, Biggerpockets has investors from various sizes units ...

Talk to the people in your area doing flips or agents that have clients who do them regularly, I bet you will find that the people who do any kind of volume all use the same 1 or 2 HMLs.

Your best bet is to either up your offer or do what @Mike Cumbie suggested and make your EMD non-refundable (maybe also up the EMD too).

We call it the ping-pong table, as that's about the size.  5-feet is too far to reach when passing out food to those on the other side. 

The best bet is to 'follow the bread crumbs' from existing connections. 

I bet that cost him a lot but the tree was gone.The city here is also pushing for us to pay for new sewers (old small diameter clay ones are failing constantly) & what us to replace ancient Pb connections to all mains.

Similar sized homes sell for 600- 850k in good condition.My idea is to get a loan(suggestions on type welcome) for the renovations.

Consequently, I am looking for new GC's to work with that can take on decent-size projects and will get it done quick.

But I really want to save that moment for a big boy purchase like a decent size apartment complex, 6 units and up.