Also, the desirable neighborhoods and/or communities we were desiring because we were going to be "House Hacking", the properties were over priced.

I actually hadn't thought about doing an option with a "purchase window" that covers his desired closing date.

How hard were the more desirable areas hit?

The house we found was in a desirable neigborhood and was listed for 280k paying my closing costs. 

I didn't mention that, to accommodate the tenant's desire to move in earlier than the "ready date" posted, some of the interior was not completed (only basic floors and ceilings) when they moved big piles of their items into the centers of each room, which allowed completion of the walls, moldings, paint, trim, doors, light fixtures, switches, receptacles, cover plates, etc.

The path you laid out with regards to NOT being an owner/operator is exactly the direction I desire and plan to go.

So now I'll just sit back and benefit from the nimby housing restrictions that plague our other desireable, high end neighborhoods.  

Better to simply walk away from the deal, or if desired, make a backup offer to the seller IF the wholesaler's deal falls through. 

Your best bet is usually with an individual landlord or less desirable property.

The issue as @Curt Davis raises is whether the LLC can really offer the protection you desire.