My vision is to build a second single family home (with garage) on the back part of the lot...and then sell them individually retail via a realtor.

Imbedded in my Purchase and Sales Agreeement is a phrase that states "This Agreement can be assigned" This is what allows me to wholesale the property without having to purchase it myself.The main ingredient in a successful wholesale is starting with a motivated seller.So what do you do or say to the owner if you can't sell the property to another buyer/investor?

If you bank has filed a "notice of default", or whatever its called in your area, you've probably had numerous phone calls, letters, or people knocking on your door already.If you do try a sale leaseback like you describe, I'd recommend you do it with someone you don't care to stay friends with.

In your opinion, what would be the best thing to say to get my foot in the door to talk to them and take me seriously?

Its $291 a door.

My banking contacts can get me the REOs but most of the money sources that I know have either closed their doors or are turtling.

I used to drive to city every day would take about an hour to the loop, door to door.

Owner's relative lived next door and conceded to letting him build his fence 4 feet wide (90ft deep) onto their (her-his daughter's)property line for RV maneuvering.

The attic is semi completed, just needs heat to be a 4th) Location is fair....not a bda neighborhood, just on a high traffic street, and has a 3 car garage which 2 spots are deeded to the house.

A landlord can not transfer some responsibilities (heating, water, functional roof, doors and windows functioning, safe electrics).So, if you have an agreement and the tenant is following it you pretty much have no leg to stand on if you feel something is wrong.