My intention always is to complete my due diligence before putting anything under contract so that I won't have to make use of any "out" clauses, but I also want to protect myself. 

In some cases a Letter of Intent may be sufficient to get the ball rolling

Since my house was a foreclosure and they thought it required some work, this was the only loan that the bank was willing to accept so I took it with intentions of refinancing as soon as I could.

@Angelo DiGiacintoAgents run the spectrum, if they get creative financing and their broker gets creative financing, like lease purchase, lease options, land contracts, wraps, etc, then get a conference with the listing agent and the sellers together at the home.Present the solution and get a letter of intent to purchase signed, and get an attorney.

Provided you have a valid contract with the seller, you can record an instrument (e.g. an Affidavit of Purchase and Sale Agreement) with the deed clerk that formally announces your intentions as buyer.

You're staying away from the initial intent of selling by not executing contracts at the same time. 

Brad Is your intent to buy and hold the properties for cash flow purposes ?

I remove all the gas water heaters in my units, regardless of my intentions with the property.

With NPN's, on the other hand, I would be intentionally investing into the situation already knowing that my exit strategy may be to force a family out of their home.That still leaves the door open to the idea of purchasing a NPN at enough of a discount that you can take a haircut on the balance, thereby reducing the mortgage payment to something they can afford, and still make a nice profit.

Has anyone heard of "investors" or builders who would finance a home to flip (with an intent to sell agreement) with a buyer who has a VA approved loan amount?