Almost got a place in Tuscany back in Feb but couldn’t quite come to an agreement on deal terms. 

In turn the seller can take action against you because there is an agreement between you and the seller.This is true UNLESS you did this deal as an actual "assignment" and the contract between you and the seller has "or assigns" as the buyer and you notified the buyer of the change in buyers prior to the deal falling apart.

It's definitely possible and we have done some similar deals.  

Know what everything costs, be ready to jump as soon as you spot a deal, and be creative enough to make it look good. 

After closing sold a cellular tower lease that generated $790,000 in cash reducing our acquisition price down to ~$56.00 per SF What made you interested in investing in this type of deal?

Just look at their closings...

Hello,I am pursuing an off-market deal for a 4-plex.

I understand his point that the lender will be interested and your deal when you have an actual deal in hand.

I believe you still have to live there for a year after work has been completed, maybe a year after close is all with 6 months to finish the work. 

What made you interested in investing in this type of deal?