These things happen, deals fall apart, everyone knows it, professionals don't get upset about it.

Only way I'd make this work is if I become a silent partner or just capital partner lol. 

Make sure to build a sufficient safety net of cash to fall on at any given time. 

Saturated ;)It's always been hard to pull big lists from the web around Sioux Falls.

After searching for properties for 5 months now, having a deal fall threw the cracks due to an out of whack appraisal, and my limited budget, I am concerned that the next property will be the same or worse.

Everybody said we were crazy, we would have thefts, the sky would fall, etc.  

I am a mechanic or engineer- my background is in the construction fields, I owned my owe business for 12 years and lost it all in the last market crash and said I would never do what I did before- now I am at a hospital working in engineering- I do have a rehab but my stamina is a little less than what it was 14 years ago- I'm thankful for my day job but I know its not where I want to be so I feel the pain- the biggest thing you got to do is find the right deal- something your day job can afford ie.. rehab, foreclosure a deal that makes sense- bite the bullet and buy it- you will have to get dirty, do the work your self and don't fall in love with the property, find the best market move for it and get rid of it or keep it as a rental, do it againkeep crunching numbers and looking at properties one will be there for you there everywhereGood Luck!

Might be the thing that make a buyer fall in love with the home.

Whatever HML lend you use would hold the majority of the debt and if it falls through then so be it.

Being in Texas:Option greater than 180 days are not legalContract for Deed is not legalWraps can be done but I urge you to use the services of a Lawyer who specializes in this area as creating a new loan can fall under the requirements of Dodd-Frank