If there aren't other offers on the table, they might not be willing to miss out on a buyer just for $5K.Also, is this a regular homeowner (non-investor)?  

See this as a great opportunity you can talk to your mortgage company and explain your situation, I am pretty sure they would rather have you rent out the home and pay your mortgage regularly than foreclosing because you could not pay. 

I'm finding stuff regularly off-market.

Martin and @Ryder Meehan have meetups in SF regularly.

We regularly accept applications before the home is rehabbed.  

We are looking to sell a note an our regular attorney is not able to draft the paperwork for us.Thanks,Bob

HI Chris,Yeah the option would be to utilize a 203k FHA loan or a Fannie Mae Homestyle renovation loan the only down side is that the FHA 203k similar to a regular FHA loan has self sufficiency requirements on 3-4 unit properties so if you're in a area where rents are high relative to price then you could be good otherwise you might not be able to meet the rule and use 203k to finish off your repairs to the unit.The other downside is if you used home style reno loan is that you'll need 25% of loan to cost as a down payment (acquisition price + rehab).With the Home possible program the units have to atleast be habitable shape.

Track all of the expenses and income on your projects in report form that you can view regularly with other people you trust to help reducing your expenses and increase your income.  

I was under the impression that when you paid to play you were allowed to self promote.

if you are going to do just a regular FHA loan and you have good credit i would go to wells fargo they have some pretty good deals.