You want it to be active by 11/1, as it is very likely that Oakland will "roll back" rent increases that don't comply with the future RAP rules for anything prior to the date Prop 10 passes (Oakland will definitely add condos and SFRs to the list of rent controlled units if Prop 10 passes) 

You need to know the rules and what you are buying.

I wouldn't buy for appreciation at this moment in time because who knows when the next correction will come...many think it will be sooner rather than later.....if you are able to buy for cashflow right now in Philly that can definitely be your hedge against the coming correction.Full disclosure...I am NOT an expert....I have 2 units in the SF Bay Area that I have for cashflow and am hoping for appreciation...but if they don't appreciate I still have positive cashflow on one unit and I'm barely below cashflow on the other......In Cleveland I have 6 units and all are strictly for cashflow and they are all between the 2% to 3% rule.

Thanks for your input.I have purchased three SFH through Roofstock and I am in the process of purchasing a fourth. 

I not sure what rules you have up there but id just sell as is with bill of sale. 

Not sure the rules about putting it back on the rental market, but I imagine it's not that easy or advantageous for the same reason as the above--I've never heard of anyone doing it just to refresh the rent-control numbers.California is generally pretty bad for landlords.

I can find deals in my area where you can get a place to close to the 1% rule (with a ton of work and some luck) and I just can’t justify the risk and stress of going out of area.  

A Bank is usually more interested in how much money they can make, and not you.My solution is not easier but you must be willing to make some justifications to make it big and rule out all that is not necessary. 

What are the rules on putting this property under contract even though it is on the market and represented by a real estate agent?

There is an interplay of local taxes and US taxes, and often it is complicated by "treaties" which are agreements between two countries that set special rules just for those two countries.I would not rely on some generic online advice in your situation.