I would also decide what to do with the tenants...if you elect to move forward with them, you'll want to screen them and execute contracts as the owner/landlord. 

You want to make sure you are executing the 1031 exchange properly.

Their execution of excellent service and the way they run their business inspired us to do the same in the LTR realm.Since the summer, I have been reading BP forums, real estate investing books, and listening to podcasts daily.

This strategy definitely works, but does the investor you are working with know the process and local laws well enough to execute it properly?

If you are presented a wholesale deal from anyone, be sure to verify that the signed agreement is signed by the actual homeowner of the property, that the title and escrow company are legit, and that the wholesaler has a legit and fully executed agreement.Unfortunately, our industry is no different than any other and unscrupulous characters exist who can't make it in the industry the legal way and choose to steal and defraud the innocent and unsuspecting.

Will definitely get a bit more up to speed on the key things to help successfully execute on my intended strategy.

In this case it is a straight up notice, then eviction Unless they have a written legitimate (executed before the bank got the property back at the auction)lease that is not expired yet,And they pay You the rent...they would have the right to stay until the lease is up.  

Is that written into the law there or is it a work around you've seen or executed?

DFW is a tech and defense hub, so 3-6 month executive leases might be the way to go.Good luck, and sorry your repair estimates really let you down here.

Ultimately, you need to understand the investor mindset, and be able to execute quickly, and okay writing multiple, or embarrassing, offers.