To give you an example, a seller received an offer next day the house was listed, and accepted it, in 3 days after the seller received a better offer, his attorney gives undoable conditions to the already signed contract, like bringing a closing day earlier.

Turns out the past two months the property management company did not receive the rent.

After doing a little research, I thought this would be a great place to network and receive great information.

The county said 2-4 units were no problem but 6 would require additional approvals.

Good luckEDIT: In addition to all of that, make sure it's still a good deal for you in the end.

If you don't want to borrow anything additional, you would be doing a rate and term refinance.  

In addition there are elderly people in need of assistance by way of assisted living.Is it possible to approach a land developer (apartment or assisted living/health care) about entering into a 100 lease agreement whereby I make the land available under a lease but they develop the property, manage it, and maintain the operation?  

You also may want to look at a site called houseflippingworksheet.com for additional help on how estimate costs of rehab.

In addition to them having money they purchase property “AS IS”.

If your not thinking the rental route, I have to say I personally received an excellent education buying and flipping my first property, did 80% of the work myself, watching youtube videos to learn how to tile along the way, etc.