Do you tend to see a reduction in your projected profit due to delays in permitting, additional costs due to unforeseen issues before construction starts, impact fees, etc?

3) Are there other ways (online and free or for minimal amount) where I can find email IDs of motivated sellers rather than only addresses for sending the post cards (I know post cards work very well but just thinking if there is some other way)?

Now the cost of those things above is very cheap as there is minimal involvement with me personally.

I'm supposed to be closing by next Friday, don't think it's possible to delay a closing, or is it?

As Jordan mentioned, your most realistic and practical route is to secure a W2, save your capital, build your credit, and minimize any outstanding debt you owe.

If this is your first one, that gap may prevent or delay you from doing the next one. 

I also apologize in the delay in response, i've been in london the past month and a half. 

What did the PMC communicate to you about the reason for the delay?

If so, how can I be added onto the title of a property while also minimizing any tax or capital gains...Any help with this question that would be greatly appreciated.

This can helps you come in with minimal funds, then possibly refinance down the road when the rates normalize.