However I would imagine it could be a turn off to a potential buyer.

, well no but it will greatly improve your success rate. yes you can do seller financing but most of them would want to see your credit report and will most likely not give you favorable rates. seller financing is harder to come by these days as it is mostly due to cash buyers. can you do a rent to own or a sublet lease, sure you can. but again, most will want to see a credit report before leasing, at least that's how it is in NYC. no one on here is trying to discourage you from fulfilling your dreams and no one is trying to give you an easy answer. were all here to share our thoughts an opinions to benefit one another.

I am looking forward to gaining experience through working with sellers and/or buyers.

Great, that 2 or 3 year lease might let him milk it a bit longer, and set it up so the buyer puts $50k in his pocket to boot ($200k to cover the loan + $50k for him + $10k for you = $260k cash... making up numbers).

However, some of the best agents won't work with buyers who waver too much about buying because they can spend time with other buyers who will actually buy. 

we already have it sold to a buyer :( I missed out on that one. 

If you don't have a Buyer, then no price, no matter how discounted, will make sense.Best of luck to you!

Probably because it's a completely different buyer. 

@Andrew Michael Thanks Andrew, I work for a reputable wholesaling company in Baltimore and have met plenty of wholesale business owners since I've been working here so I've built a good sized sellers list so far and i'll be looking to add more (also from calling local wholesalers and asking them to add us to their buyers list). 

FHA 203B/203K loans are not "first time buyer" type programs, they are owner occupant programs.