As opposed to fixer SFRs, you can figure out who a lot of potential buyers are, and assign the contract during escrow. 

Have you seen people who are weary of contingent contracts be willing to offer more in concessions at closing to help cover the bridge loan?  

The Lease Is A Legally Binding Contract.

My recommendation would be to put the deal under contract, then during your inspection period talk to everyone and anyone that is local that buys properties like this and ask them if they know the property or anything about it and ask them if they think it's a good deal.

This also leads owners to ASSUME simpler is better when it comes to management contracts.

That being said, how does one go about getting architect plans for a home to get bids from contractors in a smart way?

Utilize VA Loan Guide, BP Calculators, and Contract Templates.Good luck!

I would suggest to check these things out before an offer or while under due diligence before the contract goes hard.I was under the impression he got it to rent primarily.

@Rama KrishnaTo start investing in real estate, set SMART goals, educate yourself, learn market research, and choose a strategy.

You can always sign a contract to buy the remaining properties anytime with a closing date scheduled for the future (not sure why he would want to do that though since we don't know what will happen appreciation-wise).