As a matter of fact, my recommendation broadly follows your proposed outline-- except my strategy is a little more agressive.

I was planning on using the general phone discussion outlined in the book "Flip", and see how that goes.

However it was outlined [not to do] it in OH laws, you cannot do it that way, but can be done in other ways.

Bremner outlined, although I disagree on using Redfin, but I also don't have a huge amount of experience with it. 

But when your option is between your capital going towards borrowing something vs. buying something that will be increasing in value down the road (hopefully), it seems more logical to go for the buy (in my opinion).In the scenario you outlined, I would do the math.