I think everyone needs clarification from OP.

Thanks for the clarification, I'm slowly starting to understand this more bit by bit.

Now if you could negotiate a better price for that property, things become a bit more practical.P.S. something to consider regarding FHA. if you havent read up on it, is that the PMI upfront and monthly rates have been increase as of July 1. also the monthly payment with <10% down is now effective for the full term of the mortgage rather than the usual term of dropping of once you attain 20% equity, long term this would cost you tens of thousands over the course of the loan, so i would try and save up for 10% down if getting FHA..

The loan agreements with the private lender are negotiable, so they can be restructured if need be in order to make commercial financing more attainable.

@Travis Stern To notify people you have to use the @ sign and start typing their name, double click and it will populate the comment box in blue and they will be notified, especially if you need some more clarification. 

@Saj ShahEven better, thanks for the clarification.

I would like to connect with an attorney who could help me attain physical access to the property and then get it listed and sold. 

We are looking for some feedback to our plan below, specifically if we should sell our current house to attain additional capital.

Being a young investor, I have found that commercials loans are far more attainable for where I am at in life(easier to get a construction loan too!!).

My advice is to not only research but set some attainable goals and go for it.