I’m seeking guidance on how best to approach this situation and would appreciate your thoughts on what you would do if you were in my shoes.Here are the details: My current home loan is $242,000, and the property is estimated to be worth approximately $420,000 (± $5,000).

With the right approach, you can turn these opportunities into great wins!

Please assist me in exploring this approach. 

This is the first home I've ever (possibly) bought and my first investment property.Any advice on how I should approach with my counteroffer? 

This approach undermines the trust that should exist in a lending relationship.

And get those incredibly good returns?

There are so many ways to approach this model, from buying existing, to retrofitting homes, to building new.

Reading your story like this as a whole was incredibly inspiring.

Case law supports him.I don't even know where to begin with a comment like that, other than I suggest you start building a legal defense fund, to deal with that mistaken approach to contracts. 

Depending on your level or preference of analysis, data and their providers are incredibly important and difficult to obtain when it comes to real estate underwriting.