This isn't much different then investing in the stock market... there is risk and there is reward.  

Another plan is a 90/10 split with a few other differences. 

I heard this terms in a BP podcast and reaching out to see if anyone can explain how a rent to purchase is structured legally and the differences between the two.

Many banks do not run municipal searches and therefore can still finance the deal despite missing COs and no permits.Whether a buyer/borrower would take on the property this way is a different story.

If you live in California and have found your experience to be similar or different from mine I would love to hear it!

I would talk to a Mortgage Broker on different loan types that would be beneficial.

With a 50,000 difference your property may be a deal worth doing, but you need to know the numbers.

I would look into doing a first at $766,500 and backing it up with a small HELOC to make up the difference.  

Yes licensed individuals in different states can pay referral fees to other licensed individuals.

First, clearly outline your short and long-term objectives, evaluate your financial preparedness, and explore different investment opportunities.