A developer did buy it and is now planning on a meat market/gas station at that location. 

@Dan Heuschele: My plan is to have a long time horizon for my real estate investments.

The seller has already all the plans approved.

My plan is to paint over it to make it look nice and move on.

They didn’t go as strict as they threatened, at least not yet…https://www.atlantaga.gov/government/departments/city-planni...2 properties maximum and the first one must be  your primary home… so be prepared to move there and pay state income taxes  https://www.atlantaga.gov/home/showpublisheddocument/54610/6...you and your landlord will have to get this form notarized.Please just make sure you have a plan to keep making rent payments after your short term rental plans are banned.  

If it's reaching maturity and you are planning to keep the property longer, maybe you will need to look for a longer term.

Maybe spend the next year coming up with a very specific plan of action on what you want to invest in and where and how you're going to do it and then work towards the goals.

We plan to take out a wall and add an island to open the kitchen up, take the carpet out of the bathrooms, replace most of the flooring, finish the 4th bedroom and the rest of the basement, and various other minor updates.

While approval might pose a challenge due to your lack of flipping experience, a solid renovation plan and clear exit strategy can bolster your chances, especially with strong credit.

For example above $1M-2M might be capped or vice versa, luxury properties could come with a premium compensation plan since they are more difficult to market and transact. - In competitive markets for hot properties, how the buyer's broker is compensated will have a major impact on the option the seller chooses.