I talked to all the contractors on a regular basis which allows me build great working relationships with them. 

The young couple paid regularly and then paid off the loan after two years.  

Do you think this maybe a good route to go.

Right now it seems like FHA would be the way to go because I would have more available capital for the second property, but I was wondering if anyone had any experience going the FHA route.

., here is just one of hundreds of previous threads about wholesaling REO's:- https://www.biggerpockets.com/forums/93/topics/150...Basically, you will need to jump through lots of extra hoops if you want to go the "Land Trust" or "LLC transfer" route.

On another note, do you regularly do REOs?

Is there a better route or way of getting what I am looking for?

Is there a better route or way of getting what I am looking for?

rewiring and old house is a pain i'm assuming its plaster and lathe. probably most of the 15k was for labor just to get to the wires, if a guy could trace  where the wires are routed maybe you could get a couple high school or college kids to sawzall out just enough channels so the sparky could refeed wires then cover the whole thing with rock, sometimes it works sometimes it doesnt. a 100 amp service is not alot for three units. 

If the mortgage route does not work out, how about a HELOC on the LLC owned property?