No attempts to "pull one over" on anyone here--in fact this deal and partnership idea were brought to me by the other would-be investors (including the deal finder), because they're interested in making it possible for my wife and I to move closer to them (currently living in different states).

Does that include utility service to the house, a driveway, septic and well? 

The tenants pay all utilities including sewer and garbage. 

Combined rent $1950.

The cash flow is only 5k/month (not including cap ex, maintenance and vacancies), but it’s enough to pay for my kids in college.

This is a big one  this disclosure must also be in all advertising of the wholesaler including SM.

In any contract you don't typically need a clause saying what you CAN do, its assumed you can do anything legally allowed as an owner including sell.

A lot of people (myself included) use multiple baselane accounts and sub-accounts to keep things as clear as possible relative to each property.

The first apartments I rented as the owner, were previously rented by the former owner at $150 month including utilities. 

Was it included as a credit/debit on the HUD so it should have reduced your cash to close?