If this transaction occurs the 2nd funding source agrees to give first right of refusal to my equity source to purchase the property back at say $11.5MM- if it takes two months, three months, up to say a max of 8 mos.  

That's good at handling wholesale transactions?

Thanks, @Frankie WoodsWhen newbies send out letters and they do not know what to say, when to say,  and how to say it to home sellers, they are wasting money and time.Dont be a One Trick Pony, Be a Transaction Engineer. :)

This is a rough estimate but it looks like it should cash flow.2900- rent1300 mortgage232- Vacancy232- maintenance232- property management511- property taxes100- insurance=2607- expensesCashflow +333 a monthIf you do plan on developing the property further you will need to check with city zoning department. 

If we sell in bulk, it's a vetted process with brokers on the transaction and according to all local, state and federal rules.

In the scenario you have laid out- you will not be out of pocket any $ at the end of the transaction, and depending on the loan/closing costs, you will probably put a few thousand in your pocket. 

2) From the buyer's perspective who's solicited a seller to sell their property, who's real estate attorney or title co. should be used to carry out the transaction in the best interest of both parties?

There's a federal tax incentive:A taxpayer may claim a credit of 30% of qualified expenditures for a solar system that serves a residence located in the United States that is owned and used as a residence by the taxpayer.The LADWP (Los Angeles Department of Water & Power) also offers an incentive which comes in the form of a subsidy for the electricity you do get from the grid.

Not a lawyer, but I would have some concerns if I wasn't licensed and was involving your buyer in the transaction with their POF/Preapproval. 

Long story short, I excelled as a part time realtor and did more transactions than any other new agent in the office.