Does anyone have a similar predicament, wherein you may be able to offer multiple solutions to property owners as a buyer, wholesaler and/or agent? 

So basically if I wanted to work on the house full time until completion I would have to wait until the property sold before I receive any income?

Basically you can use your 401k/IRA $$ to purchase real estate.  

The target end buyer for the whole sale would be a land lord or a first time home buyer, but then i'd basically be putting this property under contract and re posting it on the market as a FSBO.

HiI am getting started in REI and working on building up my contact list of other investors, attorneys, handymen and other friends.A little about meI have been studying real estate basics for the last 6 years, helped few of my own close friends ( my own home) buy and sell houses just to learn the trade but not for commissionWith my education and bit of experience, just started venturing in this new field but puruing very actively and aggressively.I realized having a good team along side in my journey will truly be helpful and mutually beneficial.Please reach out with your interests in REI and how we will be able to help each other.I live in the nw suburbs in Chicago area and currently working on a townhouse deal.

On your signs, you basically put the same thing as the CL ad. 3bd/2Ba 1,200sf CASH ONLY!!!

The new buyers have since reno-ed the houses and are now renting them.

I'm with Investable Realty, where we cater to the investor from acquisition to end buyer/ tenant.

Dan, I am certainly on the lookout for a killer deal, and have had a couple in my sights, but was unable to compete with the buyers that were willing to pay well over asking price.

I look for the basics(tools, transportation, professionalism, working weekends, being on call, previous income etc)3.