I want to be an ethical wholesaler who can help people and also offer accurate estimates for cash buyers.

It sounds like you probably didn't do sufficient due diligence on this guy and/or don't know him well enough to predict how ethical and trustworthy he is.

Based on what I have heard so far, I believe you can structure this to qualify but trust me when I say any good QI's and the two I mentioned above are, well known, respectable, ethical and more than capable of answering your question. 

Would love to get some schooling from you more experienced Pro's out there on the best completely legal and ethical way to structure this.

Many ignore the issue and have no intention of operating morally and ethically.

Would love to get some schooling from you more experienced Pro's out there on the best completely legal and ethical way to structure this.

I want to do things, morally, ethically, and legally right.  

That gives you different ethics and access to the MLS.Hope it helps some and good luck with your investing

Do business ethically and you should never have a problem. 

I think, to avoid any trouble for yourself, and to do what is ethical, is to take that savings you get back from Bob and bring everything up to code that you are aware are not up to code, and do better homework in the future.