If you decide to go that path, I'd go back to a 30 year fixed with the lowest payment possible to obtain maximum cash flow. 

Vacant- 3bd/1ba Balance $63k vacant now but rented for $600 mo (15k repairs)2. 4bd/1ba Balance $38K currently rented $600 mo3. 3bd/1 ba Balance $53k currently rented $575 mo4. 3bd/1 ba Balance $43k currently rented $600 monTotal outstanding balance to bring current with mortgages/taxes $193k and the market value from tax office/assessor $250k Sellers want $7-10kk and will assign contract to new owner if financing cannot be obtained immediately.

This makes it hard for small builders like myself to obtain lots to build on. 

A BPO-brokers price opinion should suffice, no need to obtain an appraisal.

Thanks, so the standard procedure is to obtain financing in your name, but put the property under the corporation?

Profit disclosure must be made.Too many contingencies in your offer - not good - you only need oneLocating a cash assignee who will take the property as is - need to have a plan to collect assignment feesAssigning - Flipping - Recycling real estate is in my opinion the highest form of leverage one can obtain in this business - Selling (assigning) property you do not own.

Are you saying the bank (in the contract) prohibits you from obtaining financing?

The good news is that...we are able to obtain a 5/1 ARM loan at 3.0% interest rate at 70% LTV with 10 year balloon.

will reach out to the IRS to see if they are going to redeem their lien or abandon it and, obtain the abaondonment documentation to clear title up.

The Mortgagee must determine the Net Self-Sufficiency Rental Income and obtain a completed form HUD-92561, Borrower’s Contract with Respect to Hotel and Transient Use, from the Borrower.