In wholesaling, if a real estate agent gives you a lead on a house and you end up putting it under contract and successfully assigning it to an end buyer, is it legal to give the real estate agent a percentage of the assignment fee?

I don't have any Legal Experience to contradict you on the Warranty Deed aspect. 

EDDM is very restrictive.

In terms of the legal structure, you should consult a real estate attorney as to what will work best for a particular group of people.Best!

Unless real estate law is dramatically different in TX than it is in MA (and it could be), he is under a legal obligation to disclose these defects to other buyers.That said, I'd walk away. 

@Richard HowellThe most important restriction to keep in mind is that you cannot lend from your 401k to any disqualified persons.

In terms of keeping both parties legally protected financially and legally?

This means that we wouldn’t actually be occupying the property until the lease (which we can’t legally end) is up.

Of course, speaking with a tax and legal advisor about all things listed above would be to your benefit and may help you decide on things as well. 

It is just as important as the rental home you purchased.This Industry has to do with legal issues, and many lawsuits, and if you don't have the best to protect your investment, then you won't be in this business very long.I know, it seems silly to think that by investing in a financial software program verse Excel will make any difference at all, but it truly does to the person you want to borrow money from.