But for the moment, we are just trying to take advantage of the opportunity to purchase the house next door, which we can always flip if we don’t have the mojo to fix it up ourselves.

The Finance of America fix & flip line of credit is just pre-authorizing hard money loans.

Who deals with a lien or judgment the seller acquires on the property during your fix up time? 

I’m just wondering what the average elapsed time from unit purchase to rental is for most fix and holds.

That way you're not responsible for fixing it

Buy that house, clean it up, fix it if it needs fixing and sell it.Buy below market price because the sellers have issues in their life, add value to the property, sell at market price.I would definitely go to Alamo REIA.

@Patrick Rowe Pros are mainly the fixed 30 year interest rate for conventional. 

I suggested and tried multiple fixes for them, but ended up calling someone to service the water heater as well.

We want to take the remainder and fix some minor problems with the residence and turn it into a rental.

I purchased a house in East Austin close to the airport to fix and resale.