Your purchase price of 215k would be a bit higher which could cause you to lose money on the property.We have flipped a bunch and notice that even as a broker trying to be conservative in our ARV estimate, can still sometimes be too high by 5% (worst case 10%) in some cases. 

This will be my first investment property and My fear is that I will estimate my cash flow incorrectly and end up losing each month.

What’s the best way to attract buyers quickly without losing more money if we sell?

And if the market rent is only 10% more than current, you have to rent the space pretty quickly to not end up losing money on the turnover. 

My intent is to get in and work with the property owner and see if they are interested in selling instead of losing the property as well as their credit being wrecked.I'd recommend establishing good relationships with prospective sellers.

They never have a basis in reality, where the lawyer asks for a $20K retainer and tells you that you're probably going to lose. 

I really don’t want to lose this buyer—what’s the best way to make this work?

Based on what you’re saying, this deal doesn’t work—at least not for cash flow.If you’re losing $500/month upfront, that’s $6,000+ per year coming out of pocket, not counting potential repairs, vacancies, or unexpected costs.

If you are living in the home as your primary residence you will probably lose the homestead exemption if you put it into a trust or LLC.

. - We run our own architecture firm and are exploring ways to access some of the equity we've built up to reinvest in another project without refinancing and losing our 3.25% rate, if that is even possible?