You should inform the title company that you'll be assigning the deal to an end buyer, so they postpone the municipal/lien search but proceed with the title search to ensure there are no issues with the title.

@Soumya Brijesh, I own a property management company in the Rio Grande Valley and can assist with any PM needs you might have. 

You are dealing with professional property management companies.

I suspect you can also hire a management company and rent it out as well.

I own a property management company in the Rio Grande Valley and can assist with any PM needs you might have.

Are you asking if the company is legitimate or if it's possible to double your money in 3-4 years in this area via multi-use?

High cashflow, recession resistant like a plumping company or another core service company would be my suggestion  

I have reached out to credit unions, "quick" close FHA companies and I am waiting to hear back. 

I was researching Property Management Companies and thinking about buying into a franchise Property Management Company.

I would let the insurance company know that the property is a rental.