Not sure how you decided it was "fair" that you should pay part of the utilities when ALL of the utility expenses are controlled by the tenant.

You just can't take title until after your sale.Regarding the number of replacements there is no limit on how many you purchase. 

My second instinct was "How can I structure a win/win deal".I'm thinking there is a lease structure to assume control of the duplex, live there a few months rent free myself, perhaps move in tenants into the other duplex unit, in order to mitigate the holding cost expense for the SFH after closing.Master lease option?

Looking for a reasonable price for getting the entity set up and operating agreement created for checkbook control.

Which in Vegas with 12 homes is usually limited to 1-2 water heaters.

Do we have a right to a relocation assistance fee, even though the property isn't in a rent controlled area? 

We may need to get creative.We’re going to need a good realtor :)Anyway, we have so many questions, too many for one post, so I’ll limit myself to two.

So in essence for the price range of the homes I have been looking at i am not able to purchase 415k worth of homes while being limited to mortgaging only 4 homes which has left me with the following scenarios:1) I use all profit and mortgage some properties for a total of about 350k worth of properties.

But the entire time before you did not own the new property even though you controlled it. 

You need to get control of the crazy voices in your head.