I think I'm going to go the Sub2 route and get the transaction done by year-end. 

It's safe to say we bit off more than we can chew. 

There are a couple of other identification rules you can use to identify more properties depending on the size of the transaction and the value of the identified properties.

Account ClosedYes such transaction would not result in tax repercussions.

What do you think about asking the agent to rebate part of her commission on next transaction (if you feel like working with her again)?

I love working with investors because the transaction could be faster, smoother, and a business decision with out a lot of emotion, but the notion that you, as a home owner can get more money tends to be wrong... 

We have a transaction coordinator, she does all my paperwork - that's perfect.

How can I safely acquire the property. 

That said, for an all-cash transaction you can negotiate down to $750 or $500. don't forget to factor in all of the other possible fees, depending on who is paying for what in your contract:Title insuranceTitle search feeSeller document preparationGovernment recording chargesTransfer taxesElectronic record fee

Keep in mind he spends his time on you and expect a split of your commission for at least a few transactions.