This could help secure funding and expertise in building and managing affordable housing.4.Explore alternative construction methods: As you mentioned, modular homes could be a cost-effective option for building additional units on the property.

As others have mentioned, I would look into creative financing like seller financing, subject to, seller carrybacks, etc.

To your point, we can't wait for an unknown that may or may not be coming (i.e. the bottom of the market).

One interesting item in that code is that the Equity Purchase Agreement (with it's 5 day waiting period) does not have to be used if the homeowner is not occupying the residence (or one of four residences on the property.) 

@Jonathan Klemm Could you refer me to those managing brokers you mentioned?

Not to mention condos don't appreciate as quickly as a single family. 

Time waits for no man.

Investors reserve a property in advance and wait for rehab completion.

As Stuart mentioned, price point seems low which means area is likely D-C class at best. 

I don't want to wait.