Your true test will be how well can you handle the day to day as well as the major operational requirements of the arbitrage business as you scale.

Otherwise, I think the main issue is "creative financing" still requires "desperate" sellers, those that have a particular massive "pain" that just needs to be relieved in anyway. 

If we did split it four ways it would be over an acre per slice and it does seem to meet all the requirements (such as minimum lot width and road frontage etc.) for its current zoning as a four parcel set up.  

Something to note, if you pay cash for the house and later require access to those funds, utilizing a HELOC (Home Equity Line of Credit) allows you to retrieve that money.Secondly, the right approach for investing depends on several factors.

And yes, the Buyer Agency Agreement requirement is troubling. 

I've discovered that explaining our requirements to potential tenants even before they view the property has been extremely beneficial.

I think family could have purchased for a small percentage under appraisal, even if balance owed was higher, if they wanted to keep it then sell it themselves.

Remain goal-oriented, adjust to shifting market conditions, and ask for assistance as required.

Why do off market properties require a good amount of renovation?

There are also some other requirements, here is a good general guide:https://selling-guide.fanniemae.com/Eligibility/Mortgage-Eli...Can I ask though, what rate did you end up settling for to purchase?