If all you do is spend $300 with the SoS and get a certificate of formation, you are using the default company agreement in the Tx Business Organization's Code. 

I purchased a Duplex on a very large lot. 

Super large PM operators have the scale but then you sometimes get lost in their operation because you mean peanuts in the big scheme of things.

I currently am the property manager for a large 240 door apartment community.

Never send large amounts of rehab money out.

The second bidder is a large national $2B or so a year contractor, with certainly the best attorneys, and they walked away instead of fighting after meetings with the agency.....go figure.

The fee is paying for the tools and resource (which also includes a large team of people to help you, extremely valuable if you've no experience flipping houses) So no, it is not refundable if you bring a us property we cannot fund.

I don’t anticipate it being easy for a large family to find another suitable place in just 2 months... any suggestions on how to fairly handle this while still being able to accomplish my goals of having it ready to be viewed in just 4 months? 

Think about how many rooms a large family or group would need to book on the strip, then they still can’t stay next to each other in many cases.

I have never purchased a condo because I do not want to directly compete with large apartment complexes, but if you’ve already got it and you think it will appreciate remember the old re addage...the optimal holding period for re is forever.