I believe I'm getting close to get the contract, so I need to lay the ground and plan my actions once it happens.This is a pre-foreclosure property with the first court date set for next week.

@Adam Kasix You certainly need a pre-approval letter.

If you're open to an Airbnb type rental, another client of mine is in the 12-14%+ range, but he self-manages and is in a vacation ski town. 

@Max Tanenbaum Yeah, I think a pre-screen is a good idea too.

@Gloria Dulan-Wilson That's a tough one....most agents, especially good ones, won't take you out without Proof of Funds, or a Pre-Approval or Pre-Authorization.

I just do not have the $150-300 in cash, I have the cash for repairs ready but id like the ability to buy one of these homes and they sell very quickly so I dont have time to get conventional mortgages.I cant call today bc Im on a ski trip with some friends till tuesday but id love to discuss it with you if you do texas.

Initially the building looked liked it needed about $700,000 total, for which I got a pre-approval from a local bank on 75% of the construction costs.

She would usually give me a pre-approval in a day (pre-qual usually takes a little longer).

Any recommendations of interesting areas close enough to good ski resorts I should start looking in to ?

I was building a house on the gold course in Cedar City , Utah when my real estate agent told me she had the last 40 acres of land in the city of Brian Head, the ski resort area...absolutely beautiful country, zoned for multiple units.