Have a property in mind but sometimes listing agents get worried about covering both ends (especially when not getting paid to).In this market, I'd rather get a discount  by bringing my own flat-rate "buyers agent" or use a closing attorney.Offering $750 flat to be my buyers agent for a ready to go deal. 

I don't know if this is the best way to go, but I also need to get insurance to cover my butt.

With that price range, I would recommend Hard Money to cover purchase/rehab expenses.

On the other hand, our monthly profit doesn’t leave us much to cover any required repairs and purchases for the rental house.

I think others have basically covered it.

Are there other products with similar specs (covering the renovation/build)?

@Juan Carlos Gutierrez You can also be gifted the additional funds to cover your down payment and closing costs.

You can compare them and come up with one that covers all your bases.

In the previous client's case he submitted for the three tax parcel's, but has to wait to make a sale until the building is demo'd because the title company won't insure title due to the existing 'encroachment' of a building covering the property.

., you want to include specific provisions not covered by the standard form), you'd be best off with an attorney.