The more important thing, is I want to have my financing lined up before I even really start physically looking at properties. 

A compromise a friend of mine used a few years ago was he allowed the physical 'stuff' to be stored in the garage for the 1-2 week overlap.

Though I can’t afford Chris Chico’s virtual wholesaling program I am strongly interested in virtual wholesaling but don’t know how realistic this idea is as you can’t physically see the property.

However; I would never waive the physical inspection and most local lenders can get an appraisal done within the 17 day contingency period.

I would likely conclude that your failure to disclose arose out of putting your economic interest ahead of the tenant's physical safety.  

Property, benefits, and rights are included in real estate.Clearly, the property is permanently attached to the physical surface of the real estate, what is above and below it, as well as to all property rights, including the owner, seller, lease and enjoy the land.

Gift tax has me concerned, and trying to research the best way for him to physically invest the capital of the upwards of $75k in our first investment.

I would talk to and physically look at their last 3 jobs.

That said, he is very supportive and also has a tough and physically demanding day job, so I can understand why he doesn't have as much energy or enthusiasm for this as I do. 

-For the right person/couple, potentially extremely reduced rent + $ in exchange for some physical labor and administrative/management duties.