I'm new to RE as well, Laura may have a better answer, but from my understanding I believe with a fix and flip, after getting an offer accepted, you need to put it under contract to get the inspection, financing, etc. in order.

My ego would have me believe that, at 57, I not really "new" at anything, I've been around long enough and have seen enough to at least be able to figure out some of this stuff.

They bought their properties 15 years ago for 600K, they are now worth 900K, and they have taken 300K in depreciation over the years, so have 300K of basis left which I believe would create a recapture tax of 75K due in the year of sale even if there was no down payment. 

We also believe a good stable tenant should be happy to make a 12 month commitment otherwise at this price point, something might be up.

It can set you up nicely for financial freedom and help build an amazing future but I believe it is not worth the cost of your early 20's.

I neglected to include in my original post that the offers were all cash, so I do not believe the closing schedule would be a factor here. 

I am looking for a property manager, I believe 1 or 2 of the units are section 8. 

@Chase Gibson @Lukas Zupan  I certainly don't know Oklahoma law but I find it incredibly difficult to believe that you can be held to any contract that you were never a party to, think about it.

I believe rehab loans have more restrictions than I am interested in.

If you believe your tenants to be intellectually challenged to the point that they can not manage the recycle system you have a problem.