Owner is very concerned about tax implications and firm on price.

Speed at which interest rates have climbed is more of concern that interest rates themselves.

First, check your rental/lease agreement to see if it addresses such an issue that you are facing now.

However, you are a landlord, your only concern should be if they pay their rent on time, keep your place clean with no damages and are not doing any criminal activity in your property. 

What if they have moved, their forwarding address is no longer valid, they got married and changed their name, etc, etc, etc.One recent case the lien holder Chase was not notified as their office address changed and they moved to a new location. 

The comments you made about some repairs would be a concern windows deck etc...3.)

@Lee Ribeiro lots to go over here so I'll try my best to address these one at a time:"Getting mortgage under my name to get around me being on title less than 6 months" - this method will NOT get around this Fannie/Freddie requirement. 

Use their computers and type in the address.

This is risky I know, looking for what are the immediate concerns that make you experienced investors cringe at this idea.Thanks

My idea is to take out an FHA loan on the property and "live" in one unit, as in have my mail and whatnot set for that address, but still stay at my parents.