Our original plan was to build wealthy by holding this property for 10+ years but now we are thinking 200K tax free is sounding pretty good.

1003 which, at minimum, shows you have the assets necessary to complete this deal and protects your lender from a claim that this is a predatory loan.Use of Loan Proceeds Statement, where you declare that the use of the money will be for a flip.

There are three major ways appraisers look at value for residential:Market ComparableGross Rent MultiplierReplacementTypically, as it sounds you are aware, market comparable is preferred.  

I put a SFR on the market week before last and had 10 high quality applications in 4 days (and I require completion of a free application before I show a property).

Sounds like it may be a better route for you than marketing.

It sounds like you and your family have some exciting plans ahead!

It sounds like you are the one wanting to get an option to buy during your lease term. 

Complete due diligence (geotechnical report, environmental testing, asbestos if you have to demo an existing structure)6.

(price includes home and any renovations completed).  

It sounds like a wonderful thing, but I'm wondering if it's a hassle or if it actually works.