So you may win that type of property, and then get foreclosed on yourself by the first lien holder when the prior owner stops paying that mortgage.  

Thanks for your help--Background -- About to start construction on a single home residential property as an owner builder (and yes I know how many in this group already feel about that).

If you decide on out of state market, I would network with local investors and ask for their feedback. 

Photograph everything before you start cleaning-though without similar photos of the move in condition, you may have problems with some things.Then decide if you want to keep the home as a rental or sell it. 

Unless you are renting bedrooms in your home and you owner occupy.While there are some exceptions probably, the STR ship has probably sailed in DFW a couple of years ago. 

Fast forward to today, we have decided to scrap the idea and now want to sell the land.

@Matt Roth for mailers there are various list providers that provide different filtering options, absentee owner, by county, state, type/size/class of building etc. 

Yes, I should get quotes from contractors but the owner wants it under contract before I start sending contractors to the house.

I have personally purchased AND sold many properties with owner financing. 

I worked for the owner as a property manager for 3 years.