App is pretty standard...

Is this consider off normal practice or a standard transaction with SDIRA? 

If I took the duplex up to the prevailing new/fancy standard for rehabs in town (black appliances, new cabinets, fresh pergo floors, etc) I think they could each rent for $720-$800/month.

Maybe having high screening standards but a lower security deposit and not collecting last month's rent up front is enough insurance for you.Up your marketing game.  

Each state is different, but these aspects are generally standard, mess up and have a felony lose your license, some misdemeanor charges can do the same thing.

While we all prefer to use people we know and trust, it really makes no difference...the title co. does their work as per industry standards...unless of course you're trying to do some funky double close/assignment you're trying to keep from the seller. 

in Florida the standard contract is called a FARBAR, I've bought and sold hundreds of properties with it with no trouble so assuming Texas standard contract is fine.   

McLennan CAD Property ID:xxxLegal Description (partial):xxx Block 3 Lot 4B 5 Acres 0.2083 ADDRESS: 2222 xxxx Ave.Waco, Texas 76706-2906DWELLING: The house and outbuilding(s) located at the above addressSELLER:Maria S xxxBUYER:Waco House BUYER, LLCTERMS:$xxx CashTerms and ConditionsSELLER warrants there are no outstanding “fix-it” letters or letters of demand for repairs, code violations, hazardous conditions or red tags from the city, county, or any other government agency.Offer is contingent upon BUYER being able to obtain a standard fire insurance policy.BUYER agrees to waive standard lead-based paint and asbestos tests required for older properties—years built from 1938 to 1952.SELLER warrants DWELLING is “hooked up” and serviced by city/county water and sewer providers.BUYER has observed marginal condition of roof on the DWELLING.

(The premium difference is about $150 annually).The company I’m leaning towards defaults the deductible to $5,000.

With most deals I've found, the 120% rule gives plenty of room for a healthy wholesale fee after you deduct your closing costs.