Our company keeps them in the owners' names, but either uses our mailing address or adds us a C/O (care of).We then manage the accounts and pay them for a small fee. 

However, the properties make their way to the sale is FRACTION of the original lists.

like repairs/maintenance, PM fee, utilities, taxes, etc?

Originally was trying to do a seller finance deal and they were open to it, but things got a little complicated. 

Originally posted by @Reinhard Bergel:check the tax records ...for what?

Have you considered a Master Lease agreeement with a lesser down payment in the form of a non-refundable & applicable option consideration FEE,  and a 12 - 24 month Option to Purchase at your agreed price? 

You can save Realtor fees (maybe) but you need a good RE attorney to make sure you're covered legally...http://besthouseswap.com/https://propertyswap.net/

While its still money, it is .05% which points/fees/closing costs can typically have greater fluctuations.30/360, Actual/365, and Actual/360 - How Lenders Calculate Interest on CRE Loans – Some Important Insights - Adventures in CRE 

I'll only have to pay monthly rent and an option fee to move in, and I plan to find tenants and charge them a monthly rent that will cover my rent and allow me to live there for free.

Expressed as a %, B.O. shows how much physical vacancy the property can handle to break even, in a worst case scenario.So if the property went down to X% occupancy, the sponsor can still pay all of the expenses and pay the mortgage.The formula:(OpEx + Debt + Fees) / Collected IncomeMost investors would agree anything between 60% and 80% is acceptable.Are you calculating B.O. in your underwriting model?