@Roger D Jones and @Dominic Mazzarella hit it on the head: try seller financing first and see what his cash flow needs are and/or if you can reduce his CG taxes. 

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

What are you trying to accomplish?

I'm a part-time CFO (Chief Financial Officer) for real estate developers across the country, most of whom are trying to give back to their communities through their real estate development skills.I'm also a former Director of Lending for a CDFI that lent money to local developers rebuilding LMI and under invested communities. 

Try not to pick flat farm ground.  

I would try to portion that off as a separate loan that can be paid back quickly - you'd need to discuss your plan with the PML.

I am new here trying to get started!

interest rates and prices are high and people are contorting themselves into pretzels to try to buy. 

You can try to shop with other lenders but you need money in reserves and for closing costs. 

Both of these questions will be answered more clearly by nailing down and defining your goals and what youre trying to accomplish.Personally, I will not be leaving Charleston unless this area drastically changes for the worse.