We are both residential appraisers working the NE Florida markets looking to transition over the LONG term to replacing our modest annual income through small/mighty single-family by buying in the path of progress where prices appear to be somewhat undervalued relative to long-term upside potential.

Are you looking for long-term or short-term/mid-term?

., so even if list price, cash is offered, another term might not work, so likely no way to hold a seller to sell until they actually sign an offer.

If i purchase this HOA/COA lien i am wondering what are my options when it comes to the mortgage. i know there are 4 options for sure1) Notify the lender of the situation and payoff the mortgage2) Don't do anything, rent it out and let it get foreclosed on3) Flip the property quickly as possible before it gets foreclosed on (the mortgage will get paid off)4) Sell the property as is at a slight discount to recent comps (the mortgage will get paid off)This is the one I'm not so sure about5) Notify the lender of the situation and let me continue making the payments on the mortgage for a long term rental playmy question is, is #5 doable?

Some of my CA investor friends are doing value add, like ADUs, short term or midterm rentals, house hacking (buy a 2 to 4 unit for 5% down and rent out the other units or a SFH and rent out the rooms) here.

take a higher percentage downpayment make sure they are liquid, sign a longer term lease, give yourself out clauses, ask about ada accessibility or requirements for occupancy from the VA 

Here's an article I wrote recently for the BiggerPockets blog about short-, medium-, and long-term passive real estate investing options: https://www.biggerpockets.com/blog/gaining-financial-freedom...

Long story short, it is hard to acquire real estate, and I feel like I should just find other ways to raise money and just let this one sit, but then again, nothing is promised tomorrow.

FYI we've changed our approach entirely and have lower fee initial entry points to avoid the challenges of long term project based arrangements so we can catch issues much sooner.

That's not smart.As far as the potential of missing a great deal, that's short term thinking.