Does anyone have any practical experience with similar situations and if so what was the outcome and how long did it take to resolve everything?

And all of this happens during the contract period reducing purchasing risk.Great strategy especially when practiced just on the outskirts of a major metro area in a country setting(a weekend getaway property that can be marketed to city folk).  

This is not a great practice.

I just worry sometimes when I see too much gung ho... and maybe not enough practicality, so I try to step up and offer a little advice from my 7 years in the business.

It is common practice for mortgage companies to later sell the already funded loan to a 3rd party like a hedge fund or a bank after the fact.

What's really the practical situation.** Strictly restricting this for when doing comps between properties in the same sub-division **

I would recommend finding a way to continue to practice in some capacity, at the very least to cover living expenses.

Just incredible bad business practices.

also curious if its best practices when assuming a loan to forgo the escrow and just pay the taxes and ins out of pocket when needed....but perhaps that triggers something else? 

The idea here being you buy a 3-4 bedroom house near your practice facilities--and renting the extra rooms to your teammates.