Even though the owner may owe more than the property is worth, they might not qualify for a short sale.  

Who do you think is better qualified to provide a quote for a rehab?

You learn so much on the first deal and hopefully this will spring board you to life long real estate investing to build wealth.I would use the line of credits and forget the other financing. 

You will need to get a few rehabs/flips under your belt to qualify for 85%+LTC / 90%+ rehab costs. 

You can talk to a private investor, but not sure I see a big enough profit in your deal to take it on.Start living like no one else does, get a second job or a better job, so you can save $20-30K and you can make this happen.I've had to pass on two deals 'cause I didn't have the cash to put 'my skin in the game' (just put $70k into buying a primary residence).

Next and perhaps more importantly, when a buyer is not represented I have no idea if they are qualified and very often they are not.

For question two, I got pre-approved about 5 months ago for that loan - so I was thinking (all things consistent) I would be able to still qualify for it? 

As @Jason DiClemente said, consult with a qualified tax advisor.

I have long boards and short boards which you could borrow and if you give me a little about your surf experience I am sure we could find an exciting spot for you/family to learn or practice surfing.

Been in the solar industry for 4 years.Typically the sellers options with the lease are:1) Transfer it with the sale of the property (which assumes the buyer is qualified and willing to accept the lease - qualification usually based solely on FICO score).2) Pay off the lease (usually according to a payment schedule, which may include early termination fees).Option #2 can be really expensive.How old is the lease?