Lender is Owcen, who I have heard mixed reviews on.I'm not ultra familiar with the process, so I don't want to set myself up for this to not work out in the end.  1) Can I simply rent the home back to the seller after the sale? 

I think it totally depends on the level of trust you have with your daughter.We don't have a lease with her but she is ultra responsible.

Also with housing and rent how it is if those ultra low rent and property states (compared to CO) pass the laws some people might migrate out of necessity due to the high prices locally.

(with perhaps an ultra rare exception).

I purchased the paint for another job had $150 in the 2 5gallon buckets of behr ultra, $46 in ceiling paint, 2 shower valves at $55 each, drywall at $64, insulation $60, plumbing fittings at $23, tile was $100, $60 in door knobs, I payed my employees for cleaning all 4 units out, painting 1 apartment and half other, tearing out paneling and insulation, re install new insulation and hang and finish drywall, install 2 shutoff valves and install scald proof valve.

Want to focus on making this one ultra-profitable?  

Unless the courthouse steps are ultra competive like they are here.

Above all of the negative news and reports, you'll be surprised to hear who made the top 10 best markets for real estate marketing.Despite jokes that you can buy homes in this city for less cash than a car, Detroit has seen a resurgence, boasting a 16.2% return on real estate investments.Thanks Bigger Pockets!

(Will google around and see what I can find)Happy to chat with you about ultra low cost solutions like this.  

Or if it's really cement like, you could do an exposed brick look and really up your rent (go with ultra modern accessories for that loft look).