If the property owner is a "long time childhood friend", then she may be willing to cut you a deal where she pays for the closing costs and/or she may contribute to any repair/remodeling work that the property may need.Once you move in you could house hack and start saving money so that you can acquire more properties. 

I have made money on 2 foot strips along someones property.I have purchased environmentally contaminated parcels and made millions oh a $500 investment.

Especially with me having serious buyers and feel as if I could move the property fast.

What if people would just move a little further out....would we still have this alleged 'housing crisis' ?

Can you qualify full documentation for a construction loan (IRS taxes net for a big loan plus what your housing is today unless you move in with family)?

I moved from CA right next door to Reno, NV to house hack and invest. 

If you put anyone in a long-term lease, they should be adequately screened, all funds paid, the lease signed, and every other requirement met 100% before you hand them keys.People who pay cash and want to move in immediately are often the worst renters, usually desperate because they were just kicked out of their last place.

Best of luck to you moving forward.

After having listened to hours of the rookie and money podcast it was time to move away from 1st deal fears How did you find this deal and how did you negotiate it?

If there isn’t a “problem,” then as an “investor looking to do creative deals” you basically move on.