Is there a "standard" when buying multiple properties at once (I am guessing, "it depends.") but thought I would ask.The flipper is motivated to get cash out in that he has said there is another bigger, stronger deal he is working on and needs the money. 

The ELA is a full underwrite minus the appraisal which is usually done within the first 7-10 days.This makes your offer stronger than the other finance offers which are usually on a 30 day close.

You and your GF are each essentially paying $400-$500 a month each to rent, while roommates pay for the majority of your housing.Also while in the wealthier parts of the DC area cash flow isnt initially great, you will have much higher rent growth than in the areas that have stronger cash flow to begin with. 

Sitting on 4x10 end posts I suspect is likely at least 50 times stronger than sitting 2x2 posts.  

Although the rental market in Knoxville is one of the top 5 in the US, there are still some submarkets that are much stronger than others. 

A Fund is likely going to require a much stronger and longer track record.  

You generally want to refi after you lease it, because that will put you in a stronger financial position with the lender. 

However in 2021, in desirable markets, the reality is that prices on public listings are not where they need to have the margin needed for a "good deal".To the extent you can source off market leads, as the I-buyer types are doing, you very likely will come across something with much stronger numbers.In Brevard, I've seen absolute junk houses advertised on the MLS as "handyman specials" and going for just shy of 200k.

Also, the geogrid disburses the weight load of even concrete trucks across the roadway versus just where the tires are, making the road stronger, even with less rock. 

It will make your offer stronger and you will have more negotiating power.