You may want to branch out and start looking for private lenders to help fund your deals. 

What made you interested in investing in this type of deal?

A n00b contacted me about the numerous "great deals" he was seeing FSBOs offering on their condos throughout Florida. 

I want to buy the property on terms and demo, build a new house.I want to structure an owner finance deal with him where I either pay him interest only on the lot or no payments for 18 months (or until the new house completes and sells whichever is earlier). 

(Not before) The time spent before the property is under contract such as analyzing deals, doing negotiations, research, education hours, traveling, etc do NOT count towards the material participation hours.

I agree with your thesis...deal flow IS real estate investing.Baseball is good training for REI...takes discipline and persistence after adversity. 

Many of them are easy value add deals where the rent is under market value and there is a cosmetic rehab needed.

For sellers multiple offers is still happening but I have buyers getting deals 5-15% off asking so it varies. 

However, I strongly suggest to seek a structure engineer or architect/drafter that guide/help you on planning and dealing with zoning permits as well.

Exactly what I am looking for right now...is one video/one 1, 2, 3, 4, 5 page document to walk me step by step to close a first deal.