These neighbourhoods are almost exclusively houses that are used as student rentals. (5 or 6 bedrooms).

You will not be able to accept any type of conventional, FHA, VA or other bank financing.

If you don't make the offer you have no chance...and you never know how low of an offer will be accepted.

What are you typically willing to accept regarding credit score? 

If I have already a few accepted offers in December I start writing offers with 60 day closings and delay them a little longer into spring.

But, a Ph.D. education is a wonderful, socially acceptable way to say, "no, I want to spend a ridiculous amount of time learning more, for a while, before getting a 'real' job."

You can accept a deposit before the start of the lease and another after the 12 months and use that as a down payment towards the home.It's also worth noting that Texas is one of the states where you can retire a title (or SOL) to the land and also separate it again later if needed.

We still get a lot of acceptances and can not take them all.

They don't wanna accept the fact it is probably only worth 85k or so instead of 135k.

If they do those exclusions you get to keep the option fee and you are off to the races with the next buyer.