Make them an offer in writing of $184,900 and apply for a loan to payoff the existing lender. 

Lender says we have to move at least 50 miles from single family if we want to take advantage moving into Multi-Family for the 3% down option. 

@Chris BattagliaIf you are buying cash for it then I would not seller finance it as it will slow down you building on itWhat I would say is have it put in your name and have him be in second position behind your lender for construction and that loan with him is at 0%Otherwise he is not going to get anyone to agree to those terms.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

My FIRST experience with it was to try to find a private money lender local to me.

I'd be grateful to hear lender and investors experience with this.

I am out of state so I'm hoping to connect with anyone who has experience in these markets, be it agents, contractors, investors, lenders, etc.

The lender will pull a title report and ask for a copy of the note.

This  involves initially acquiring a property with cash, followed by an immediate refinancing under your lender's acquisition guidelines.

Rehabs take longer than expected and the little unexpected things take the longest Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?