I'm new to my area, just over a year living here now, so I know thats part of what puts me at a disadvantage but I am working on that.

This would definitely make it worthwhile to sell, because I was all-in for Duplex C for $165K, can perhaps sell for $185K after closing costs, and that would put me at $20K profit (which will be taxed, short-term ordinary income bracket). 

To me at least, that seems like a much better first filter than any "rule" If it passes that sniff test then you make an offer at your price and model to your hearts content.

Even the registration only has my name as well as the receipt and every single other paperwork they gave me at dealership. 

There’s obviously the possibility of not being a lot of meat on the bone especially from the aspect of wholesaling.

Could he still sell the house to me at this stage of the process? 

However, there are some other regions of TX that still have some meat on the bone - relatively speaking.  

I would look myself, but this is big and there are better people than me at finding deals and putting them together, so I am reaching out to them. 

(this would put me at about 58% LTV and keep enough equity in the home to hedge vacancy and a downturn in the market.2. 

So I know this contractor who has done a few jobs for me at my own home.