To open a property management co in Washington you must have your managing brokers license. 

Yes, Tessa, you absolutely need to have a Title Co do the closing.It is possible the seller may be in violation of the new Dodd-Frank, and SAFE Act Laws, but it is not necessarily "Likely", There's a pretty large safe haven if they're an owner/occupant, and depending on the state, a number of transactions per year may be exempt (You didn't mention the potential problems with the balloon payment if the buyer is also the occupant)As with any investment, Due Diligence is required.

Looked hard at Co-construct, but Buildertrend was a better fit.Most serious builders end up using Buildertrend or Co construct.

The seller actually notarizes it at the time you close the purchase, then it is held by the title co and recorded at time of payoff.

If it weren't so darned far away for me to self manage, I'd start looking at Pueblo or Grand Junction, because the entire front range from Colorado Springs to Fort Collins is nuts.  

@Stephen Torti My subscription still works, not sure if they (Preston & Co) have made any major updates in the past 2 years.  

Since then (Jan this year), I have been managing this property from CO.

The mortgage co will want to see leases to credit the rents towards your income and to ensure one of them is moving out within that 3 months so you can occupy the unit. 

He is in Colorado and I am in Connecticut.

Some final notes are that my father is willing to co-sign or co-borrow on the mortgage.