It is ok if you need to delay your real estate purchase.

Another things you might do before you start investing is to find an office that it is convenient and haS a minimal of distractions.  

(There should be no real reason they can't schedule the billing change ahead of time, but our utility company is notorious for making mistakes or causing delays- I've had them bill both the tenant and I for the same period, then credit me a year later.)

I was thinking to minimize the downside risk by purchasing a smaller deal and using a higher LTV (~50%) with longer terms (10 year).

The benefit to me:-Potential cashflow w/ minimal investment-Ability to potentially negotiate lower selling priceBenefit to Seller:-Ability to find appropriate 1031 property and not be rushed by 1031 timeline requirements-Peace of mind that mortgage will be paid and he can sell wheneverQuestions:How would I calculate the correct lease price?

Will this method of financing affect a delayed financing refi in my name after the property has been rehabbed?

Some contracts indicate a Per diem for delayed closing..

If you do delayed financing which by design only allows you to borrow 80% or less (and up to what you paid in cash), then do you have to pay anything up front (like the up to 20% down that you would on a typical mortgage)?

It's a safe bet with little risk (minimal rehab).

On my projects, I never have a permit prior to loan closing, its just too early in the process to get it.3) On my new rentals, my repairs outside of tenant damage, are minimal.