I advocate active investors read this as they can then use that information to start building a network of people (like me!)

I’m a huge advocate of hiring STR management (and maybe a little biased) but honestly I’d say that with a 27-day minimum you could probably do it yourself. 

The deal blows up, my son loses his house and his earnest money, the sellers lose their new house, probably other penalties.

Treat him fair and you should have an advocate moving forward.

If I start with a small apartment building I think I'll blow past the $1 Million pretty quickly.

from an investment stand point yes, money is still cheap to borrow right now, and if you want to set yourself up for success when things blow up, now is the time at the last point in height of the market to c/o and wait. 

Most of the folks who advocate arbitrage are already invested in LTR's, wholesaling, commercial and have a decent portfolio.

Once this insanity blows over, I'm excited to join you as investors some day 🥺

If no holdback and the contractor is blowing you off, in many cases some municipalities may allow you to permit it after the fact.

Unfortunately it appears you have very little recourseI know some places live near a treatment plant and on certain days the wind blows and it stinks There is no recourse and most likely you will be told you had an inspection period and it should have come up then.