There isn't going to be much of an opportunity to improve the value of a new build through a remodel so unless your discount is something along the lines of 20% or better, this may not be a good fit for the BRRRR strategy but that doesn't mean that it isn't a good opportunity for a different strategy.Just thinking out loud, maybe it could be a good fit for a lease option or rent to own play.

Option 3 is the most work but best return.  

One popular option is multifamily syndication, which has a lot of potential for scaling up.

Junking back here to see if there are any HELOC options now?

I will list a few options below, but the TLDR version is I may be able to help you with the Dispo side depending on the deal structure and comps.

It seems that the latter may be a better option from what you wrote. 

What are my options, if any?

@Jake Faris keep in mind that if you change the structure of this property, then the lending options change too. 

Could I craft an offer before the hearing that has a very liberal backup option for me?

I suggest you educate yourself on the options available to tenants - and what the coverages are.