Plus is your buyer is using FHA you need to hold on to the property for 90 days to sell it. 

but if the deal is good enough and its the only way to get it done.. its a win win.the transaction lenders for double close.. generally only put the money in the day of closing and get it back basically same day..

I recommend spending some time educating yourself on how to analyze properties to prevent you from making the same mistake again.

I'm second guessing that decision now and would feel a lot better if I paid someone to review things to make sure it is being done correctly since my friend does not do this as his day to day.An agreement was signed prior to my sale, and assignment of the sale contract and escrow sent the proceeds to my friend.

Since the tenants usually go out to work and our handyman will have to book 3 days in a week to have the work done, the tenants want to discuss about the rent deduction or prorated rent for July.

You likely need a much larger volume in lower cost areas to make the same money.  

I'm glad my crystal ball was working on the day I posted that. :)

My day job is 6am-230pm so there's alot of daylight left when I get out of work.

This would be both a risk mitigation strategy as well as a bite size learning opportunity as I intent to manage close to all aspects of these for at least the short term (want to be an expert in the day-to-day operations before hiring this work out). 

I am looking to do the exact same thing except I plan to house hack it and live in the property.