This can actually be higher or lower than the FMR without utilities however the rent still should be no greater than FMR (note that in periods of low landlord participation, some housing authorities may offer an incentive of 10-20% OVER the FMR to entice landlords. )  Step 3 is that each property may qualify for a different amount based on amenities and type of utilities. 

I've done these deals and we have been able to renegotiate price and terms late in the deal, all while my client's EMD is fully protected either based on an inspection period or based on lack of disclosure. 

Then since the houses are empty for a period of time, they are subject to vandalism, theft, and sqautting. 

I’d ideally like to keep the property management financials and operations completely separate from the employing broker during that period.

Just doing a 12-24 month, interest-only payment that would actually encourage you to refinance or sell within that time period?

You are right, I am out of inspection period. 

I was able to get the seller agent to give a 30 day grace period where I can get my 1k deposit back for any reason.

-As @Travis Timmons mentioned, every property is going to have a stabilization period. 

The gurus never tell you that searching through the smoke and the mirrors in the game, extending yourself very uncomfortably into the unknown, being willing to invest and possibly waste your time searching for answers, actually building meaningful relationships, all of that's is a very big part, if not the biggest part, of winning in real estate.When Hannibal was told it was impossible to get his elephants over the Alps to invade Roman territory from the north, he responded with the following:"Aut inveniam viam aut faciam" I WILL FIND A WAY OR MAKE ONE.That's the attitude we need here.

And for a period of time, they were right:  The financial crisis and Great Recession followed, and the market value of that property dropped almost in half on 5 years.