This has motivated the seller to accept my deep discounted offer, for which I'm willing to do some of the heavy lifting.I'm interested in truncating the wait time as well as avoid a possible eviction process after the 60 days is up.

Always use a warranty deed to avoid any issues with the tittle insurance when transferring tittle.Also, Ive recently learned Fannie Mae allows transfer of tittle to an LLC without accelerating the note...Fannie updated their servicing guide to state:Unless the previous borrower requests a release of liability, the servicer must process the following exempt transactions without reviewing or approving the terms of the transfer:· A transfer of the property to a limited liability company (LLC), provided that § the mortgage loan was purchased or securitized by Fannie Mae on or after June 1, 2016, and the LLC is controlled by the original borrower or the original borrower owns a majority interest in the LLC, and if the transfer results in a permitted change of occupancy type to an investment property, such change does not violate the security instrument (for example, the 12 month occupancy requirement for a principal residence).

I understand the desire to avoid a PM  (I started out without one,  seattle laws and various other reasons I started working with one in early 2017).  

You could also draft a sort of tenants in common agreement if you wanted to avoid a formal entity, but that gives you no liability protection.

Here are some information about my situationPrice point: < $80kLoan: 20% down (to avoid PMI)Goal: Be cashflow positive after expenses, hoa's, taxes/insurance.So far, I've noticed that the condo properties I have analyzed, there is one that will squeak out $125-$175/month in cash flow.

Avoid if at all possible.

My advice on purchase is to avoid SFR that are less than $850 to $900 in rent. 

In order to avoid a syndication, all partners must be active. 

I want to avoid any issues come tax time.

I have told myself I have 3 years until I have to really look at getting into the working sector and want to avoid this as much as possible.