I do not know who would, I would not, but this contract above is saying the owner of the property would be required to defend an employee of the PM for this instance - someone goes on property collects rent, gets in a fight and kills the tenant....

We require the tenants to prove a landlord liability policy for $100k.

if this is the case and if you are  able to  handle all the behind the scenes  needs/ requirements   ( or can hire someone that can ) - go for the  change .   

That depends on deal to deal since the condition of each property and requirements of each seller will be different. 

(Granted, I realized after I created the verbal agreement on price with texts for proof and the lease that I didn't apply the discount I had advertised online.

To double your money in ten years you would be around 8% returns required.

There are financing options for self-employed borrowers in these sorts of situations, but they require a higher down payment than FHA.

Get info from a few sources, online and at least 1 from a human (ie realtor). 

I am curious if the fees I am being presented are in line with market norms:lender app fee: $10,000Origination fee 1% ($20,000)Lender costs: shows a fixed amount at $10,000processing fee $895registration fee $10,000Title and escrow fees: $4,000 est.6.5% rate fixed at 10 yearsPrepayment Penalty: Yield Maintenance months 1-114 (1% minimum)Third Party ReportsApppraisal Required Engineering Required Environmental N/A Seismic Report N/A Market Study N/A Funded EscrowsReal Estate Taxes Required Prop/Liability Insurance Required Special Assessments N/A Ground Lease N/A Replacement Reserves N/A Required Repairs TBD Debt Service Reserve N/AWould love to hear your thoughts on this as well as what you think is appropriate fees for the freddie mac sbl program. 

Here are some tips to help you get started:Real estate requires a strong network.