Be prepared for the candid responses, good tips and crazy ideas, as well as little good natured fun. 

Work with a mortgage broker who has access to various loan products from various companies.When it comes to investment properties, 1st mortgages are going to loan up to 65%-75% LTV. 

instead of 7k rehabs they spend 40 to 70k plus.. really nice product.

Not all blanket loan products  allow you to sell the properties out of the portfolio, so make sure you ask the question if your strategy is to sell the properties in the next couple of years.

In my experience, they are loyal, keep to themselves, stick around awhile, and like to pay in cash (which you will never hear me complain about).It is a natural reaction to want help the "underdog", just keep in mind why you are using real estate as an investment vehicle.  

(Information gathered from Google searching his name looking for online county records.)I don't have the cash up-front to do a cash offer, and the house is too cheap for a bank to be interested, so naturally I landed on seller financing as a potential path in, assuming he's interested in selling. 

I agree with @Joe Gore and @Wayne Brooks  the agent brought you a buyer for the finished product not someone looking to just purchase the lot.

Benefits of Dwolla for collecting rent-$0.25 per transactionRecurring paymentsNew Direct product which allows people to sign up with very little information. 

There is the possibility of (much) bigger holding cost, and the opportunity cost of deploying the money in better ROI projects.But if OP has many rehab projects under his belt, new construction is the natural progression.

Oh, before I leave this time, just to let you know that I live in an area that is the safest in the United States from natural disasters.