If you wait for a perfect time, you'll never get into the market. 

I’ve sold 2 wholesale to another investor. 

In my market, agents/investors/wholesalers pitching creative financing get this objection as well.They typically have a 2nd offer (usually much lower purchase price) for the owner to be able to accept now and cash out. 

How does this stack up with your Florida markets? 

What do you think market for that unit it?

After some rentals, flips and wholesale deals I landed on private money lending.

We have a lot of new builds in Florida and depending on the market, 2x SFR's can be cheaper in others they are not.

But you are not building any equity renting your current place.Just keep a few things in mind: make sure the rental market can support your income goals, be prepared for the time needed to manage multiple rentals while working full-time, and stay aware of any lease terms that could affect your plans.

As a junior in possession they may work with you.  86k is not enough to do a BK over that would really hurt you going forward. worse that comes out of it is you know their position. its possible though that the property will bid higher than the 600k . if it goes to sale make sure you attend and watch the action very closely make sure bidders that qualify checks are not talking to each other and making side deals so the property only goes for minimum bid and you get nothing.. this is called colluding to stymie open bidding and in some markets it quite common.

Please be gentle; I'm new at this and it's pretty complex :)Structure / Legal Details- we'd establish market value through a combination of comps from local real estate agent and an appraisal- attorney would establish all required "arms length" aspects including a mortgage at a minimum standard federal rate- LLC would pay us back based on a standard promissory note over 30 yrs Pros of selling to the LLC (I think)- A sale now would be the only time we'd be able to take advantage of the cap gains exclusion on this house bc we won't qualify for the "live there 3 of 5 years" rule due to the timing of our lease and our last time of residence.