I don't think the bank would win that argument, saying the DOS was violated when only the option to buy was executed.  

The first thing to jump out at me is the budget doesn't include any general conditions, ie, supervision, project management, support staff, etc.  

It is there to protect you if you find yourself in court so the last thing you would want is for it to be voided because it is copyrighted and you were never authorized to execute it. 

Some landlords have the guarantors actually be co-signatories to the lease, I would advise strongly against putting them on the lease (which gives them right to access as any other tenant), but execute a separate guarantee agreement with then in which the assume the financial obligations of their guarantee (who is on the lease), but have no further rights ... essentially they have the right to pay the bill if Little Johnny messes-up.If you renovate with students in-mind (durability, ease to clean, current), you do not need to have high-end finishes (no granite counters), but do use quality, mid-grade materials.  

@John S.Should you decide to go the double closing route, execute a purchase agreement with the seller, and execute a sale agreement with the buyer.  

Matt Smith auction.com does use a title company, once the bid is completed they then send out contracts for you to execute and they will not likely require you to use their title company.

Send the cashiers check and forward the tracking numbers for both packages to the HUD representative that sent you the contract for execution. 

Or even better returns because you have scale and can use that scale to get discounts (buying in bulk, full time staff, etc) and run your business properly.

I have a number of small multi-family properties in South St. Louis City, but it looks like my former primary residence out in West County (Ballwin) is just not going to sell so I’m going to need to look at leasing it...

You need good systems and a good process that you execute on consistently.