Also if they inform you that there is a mortgage/lien/ back taxes on the house could it still be wholesaled if they accept the offer and agree to pay off the amounts owed?

Builders are willing to accept investors if the cities are farther out of Dallas.

When did you last avail yourself of the primary residence gain exclusion? 

I was interested in multiple types of deals but this was the first offer that was accepted.

I was told recently by multiple mortgage folks in RI that unless you go with an FHA loan, they are not accepting less than 25% down on a multi, even if owner occupied. 

I'm working with a mentor that has been doing these types of deals for 35+ years but he hasn't done one this big in a while and worried we don't have enough investors to raise $5.3m before closing (once the offer is accepted).  

Should I accept the long lease or should I go for a 9-12 month instead?

This is why when I list a property as-is, I try to accept offers that waive inspection, and when writing offers I waive inspection (or at least waive inspection objection but not termination) so the seller knows I'm serious about my as-is offer and won't jerk them around.   

Hi, I recommend Foremost as a carrier as they would be the most acceptive of this risk.

From my research, I didn't think there was any magical rent formula but I was hoping there were some generally accepted guidelines that would put me in the range.