That means either you won't cash flow or your Return on Equity (ROE) will be terrible.Since this is your primary residence you'll be exempted from paying capital gains taxes when you sell.If you sell to your parents, it will be considered a non-arms length transaction and will get closer scrutiny.

I used solely excel until I crosses 10/15 or so properties. 

If they're not familiar then it's your chance to get your foot in the door by bringing 1031 education to them.It's been a few years since I checked but at one time NAR showed statistics that of all the transactions potentially qualifying for 1031 exchanges, only about 10% were actually handled that way. 

I’m wondering if anyone would be willing to help me out with the transaction to make sure I’m not overlooking anything and making mistakes.  

The 2% negotiated reduction is the better transaction.

You can't use these apps for international transactions.

Cross check your realtor's opinion with your PM's and you are off to a decent start.

Once you've agreed on a price with the owners and they've agreed to let you sell the property, you're free to begin marketing the deal. am I representing only the buyer in this transaction?

i keep seeing:1. buy out of state rental in a solid neighborhood with long-term potential (just as you are recommending) but then...2. have one rough tenant turn that costs a couple grand, and3. give up on real estate investing, and turn on everyone involved in the transaction for not guaranteeing that sweet cash flow in month 1 lol, yea there is a decent chunk of investors who get really butthurt by that one bad unit turn and just give up.

For tax purposes, the profit is calculated as the sale price minus the cost basis (purchase price + renovations + transaction costs).