You will better of if you also buy under that same name, read the excemptions and choose one, exp: Partnership.Consult with a good CPA.

Basically it just means choosing the work or activities you want to do, and having passive income to sustain (and protect) your chosen lifestyle.

NO ESCROW: I understand Buyer may choose to “close” this transaction without the use of an escrow company and may record the conveyance documents himself.

I don't want to jeopardize his job prospects if he chooses to make a change. 

It's a tough scenario to choose as your first deal, so I would not proceed with a purchase unless you partner with an experienced investor or if you have an experienced mentor that walks you through the due diligence.But even if this doesn't close, it will be a great learning opportunity that will pay dividends down the road.  

The RE firm then renovates on my behalf for a fixed fee, markets the property, secures a tenant and, if I choose, will manage the property on an on-going basis.

I bet the builder choose the inspector, and if they did it would raise a red flag.

Buyer shall choose the escrow, title and/or closing agent.

Yes you might have a lawsuit later but the damage would be questionable-- See my "crazy idea" below if you choose this adventure.-- Adventure #1Here is another adventure that you can choose--- Adventure #2 DRIVE OVER TO THE PERSON'S HOUSE & TALK WITH THEM DIRECTLY FORGET THE MAILMAN AND PAY THEM MONEY TO BREAK THE CONTRACT.

Well when I graduated in the year 2010, being an agent was probably the least desirable career to choose (I probably could have made more money being a trash collector in Detroit.)