The home is in a rural town, so comps also by the highway are limited.

Logic tells us it cannot continue like this, but 60 years of history tells us that over the long haul it will have outstanding appreciation and rent growth.  

Such amounts may be out of bounds of creditors.Thinking you can buy a note and obtain a note is not the right thinking, those are tow different interests conveyed, an old saying, once a lender always a lender, meaning that if you buy a note you have no more rights in or to the property or collateral than the original lender.Buying a seller financed note, an equity funded note changes the flavor, equity notes are installment contracts that revert back to a seller, buying one changes the matter to a cash basis to the extent of the price paid, amounts above that may be viewed as equity amounts, not that a borrower evades that part of the obligation but in some cases it may be treated differently, like bankruptcy.Best thinking is to use the collateral to cover the outstanding balance owing, of all loans, plus allowable costs under state law in foreclosure and the excess reverts back as excess equity to the borrower, you get your money back, that's what you're entitled to. :)My Cards aren't doing well.....:)

Therefore, I can refinance INTO an FHA 203k product, and the refinance will NOT count as a cash-out refinance, due to there being an outstanding mortgage on the property.

Completely rehab to a slightly above average standard cosmetically and an outstanding standard in terms of systems.  

@Lynn Currie Outstanding.

Or the other developer that had an outstanding invoice of 50k that he decided he didn't want to pay right now because his property hasn't produced any income, but how happy he would be to loan me a $1000 at 15% if that would help.

The 2013 school taxes were outstanding, and scheduled for tax sale on 9/22.

LOL. there are a few hotels off the highways. 

I have been looking for sometime now with no success.If needed I can share a few contacts for trades that I have found to be outstanding such as plumber, screen repair and flooring.Is it unusual to want to pay a handyman per hour?