There are companies that prepair the contract for you; (business-in-a-box), and you can make modifications.

I guess is that the modifications and improvements that will need to be made are going to cost enough that you are better off owning the house?

It mostly depends on how confident you sound when you ask it and it is vital info for you to make any decision about whether you want to buy)2b.

Modifications and reinstatements are not going to be similar events among loans at all.  

This is especially important if the funds from the equity or future cash-flow are vital to your retirement lifestyle (everyday expenses or emergency money).I can only think of three other options I would consider with pros and cons:1.)

We found that the cost to bring all of the necessary modifications windows, doors, pretty much everything that converts a container into a home up to code was quite expensive.

This is important because, since they are both the seller and the real estate agent (representing themselves- the seller) in the transaction, if they, for example, omit disclosing something vital to the buyer that is detrimental to the buyer, the buyer can sue the seller (agent).

Here is my question: Can I do the subject to and then negotiate a forbearance/modification with the mortgage company?

Renewals are closer to a modification or amendment than a refinance. 

I'm purchasing the house without a financing contingency, so if my lender says "no" for some reason, I'm still stuck with the house or losing my EMD.I've had to point out to several highly experienced real estate agents in this area that no checking the boxes for financing is NOT the same as an offer that I'll be paying cash for.To OP, it's possible that your HML's POF letter is written sub-optimally and that some minor modifications would satisfy the seller/AM.