He is a very good tenant from what I can tell living alongside him in the building and I'd like to keep him if possible.Is it uncommon for a buyer/owner-occupier to move tenants into the more profitable units within their building?

After talking to my loan processor a bit more, I think I could piece together what happened: she did indeed jumped the gun and told all parties involved that we were cleared to close when she did not receive the actual file, and the underwriters admitted they overlooked my documents and didn't follow up with some questions until last minute, thus delaying the closing.The good news is that I received another clear to close email on Friday, and hopefully this time there will be no more hiccups and I can get my keys on Monday.Looking at the bright side, now I know better about the actual loan process, and in the future I will know the right questions to ask/the right people to ask for.Thank you everyone!

I'm accounting for bonuses to my contractor for work done well and on time, additional interest/points/profit-share to my PMLs since I'm not using my own money, and then unexpected hiccups that might come up during the renovations.

In the past, all my transactions, like buying my own house and other investment properties were handled at a title company (we don’t normally use attorneys for closings normally in MO) and the deed of trust was handled alongside it automatically. 

I fully understand that from a realtor's perspective, any potential hiccups are not ideal at this point.

We did have a hiccup with the original contractor that delayed us for a few months.

So I’ve been going through tons of forums and articles and tons of YouTube videos from BiggerPockets members and investors but I’d like to see if anyone local can help me with some good first steps toward becoming a successful rental owner, alongside doing fix and flips and possibly fix and holds.Due to some setback about a year and a half ago my wife and I were tossed into a rat race of bad credit and constant phone calls to pay bills without any idea how to pay them.

Even on a "standard" sale there are hiccups along the road 25% of the time and any of those situations could cause you to lose that investment.

There was a small hiccup in the beginning: since this was a new construction the AOS was not standard and my agent wanted me to get it reviewed by a lawyer.

The FHA 203k also allows you to finance the rehab costs alongside the purchase price.