We are meeting Monday to tighten up the deal and began to write the contract. 

I like that your goals are very specific and it's not the typical newbie "I work so hard blah blah blah"Your first question can best be found either from a friendly BP investor from the Bay like Min who might pop into this thread, or you can just find the answer at your local REIA.Your 2/3/4 - typically people use assignment contracts or double closes.

I think it's more about adhering to contract law and being careful to not violate agency laws.

After 20 years in the Air Force, I'm now under contract on my first multiplex. 

I would focus on repairing your credit. see a specialist (faster) or open credit cards little by little and pay them off each month. im not saying increase your spending, just saying instead of buying that tank of gas in cash use a cc and immediately pay it off. while your credit is repairing, start banking cash. build a budget and stick to it. 80K a year is good money, make it a goal of yours to retain as much of it as possible i.e. don't eat out, don't go to the local pub, drive a modest paid off car etc. once your credit is up and savings is up, use the 80k a year plus savings to get leverage. then use that leverage to buy your properties. if your looking for a get rich quick scheme, id advise u skip over RE. don't get me wrong, you can make money fast by flipping homes but you didn't mention having experience in that area so I assume you don't. another option if your really in a hurry is to find a partner with experience and cash, and see if you can buy into one of his/hers deals. you would have to market yourself for this and see what type of skills they may need that you have. maybe you can buy in and use your web development skills to beef up and/or maintain your partners website saving them money on outsourcing. that might be your ticket into a partnership. since you mentioned your helping your friend, maybe you can partner with him?

So my first property I was hoping to have on market needs it’s gas pipes (from street to the meter) replaced.

Think of it as a legal wrapper but in reality it is legal document that looks like a contract which you design with an estate attorney and you will fund it with assets such as cash, brokerage accounts, cars, boats, real estate, etc.

They are both cash flowing nicely and have excited us to push forward to a new level.I am a Texas A&M graduate managing a welding shop for the oil and gas industry. 

They have a clause in the contract that will forbid any rent increases or evictions for one year.  

But know got to close in the one I contracted in NO exceptions.. its the banks rules really.. and like what is posted above keeps the wholesalers from flipping this stuff.