I'm probably missing a few obvious things so please let me know if this fosters additional questions or discussion.

So my question is there a way to move the mortgage on me without paying any additional cost like closing cost and gross receipt which usually paid by sellers?

Plus, during the restoration/renovation process, if unforeseen things are discovered, they'll submit a supplemental claim to account for any additional cost.

I just wanted to make sure there wasn't an additional document/steps that i needed him to sign/do before i went to the title company.

This additionally applies to your Vacancy and Repairs reserves. 

First, are there any additional steps that I missed?  

However, if they wanted to justify it, I'm sure the justification is that renters cause more problems than owners; renters tend to live then shorter periods of time and there are expenses when someone moves in/out such as extra trash pick-ups, programming them into an entry system, cleaning costs as the move in/out can be messy around the building, light damage to the building, scheduling of the freight elevator, cost of providing additional notices as now the tenant and owner need to receive copies, etc.

Here are some tips that I sometimes put my offers on if I were representing my buyer(s) especially on a hot market like it is down here in South, FL.Deposit = $5% of purchase price Additional deposit = $5k-10k upon offer acceptance.

This adds an additional layer of risk and you really have to be careful here. 

Even with our conservative underwriting, a 2 bedroom unit will generate an additional $2400 per year in revenue.