If you find you are unable to raise the money for an all-cash purchase, switching gears to Fannie will only work if you have a LONG time to close in your PSA or have many extension options (which usually require more hard earnest money.)

So yes, you can fix and flip, or hold as a rental, or whatever.Thank you, so market auction is the best option in your opinion?

There are a lot of options out there.Some of the most useful items BiggerPockets members have identified are features that save time so they can spend time working on their next property.

Quick search "MLS Only Broker California" gives you a couple of options.

There are just too many options available to go directly to the supplier!

The increasing barrier to entry results in fewer new STR's coming available for sale, but also fewer options for guests to rent. 

If you do go the seller finance route, consider asking for a right of first refusal option in the event the seller ever decides to sell the note. 

Lots of people in higher risk zones are seeing 100%+ or even canceled policies with no option to renew. 

Once they are leased, then you can take over from there.There are several software options if you want to self manage.

The credit thing should not be an issue for many DSCR folks like myself. 80% ltv may be an option, but,I have seldom found the tradeoff in cost/rate to be worth it in the last 12 months. 0% origination is possible, but, as others have said compensation is received in one fashion or another (higher rate, processing fee, etc.).