Help with logistics of making multiple offers. AB, Canada.

[Elijah Williamson]

I'm currently in the process of finding deals and making offers. However I'd like to be making multiple offers. I'm wondering how more experienced investors go about it. I'm investing in Alberta, Canada. Here's a list of my questions.

-As a new investor with little capital, how much earnest money should I be putting down? Does the bare minimum make me look bad to the seller? If I'm putting $5,000 earnest down every deal, I won't be able to tie up many properties.

- What options do I have to get out of a contract if multiple offers are accepted? I can currently only afford one on my own. Rich dad poor dad mentions his cat being his "business partner" and getting out of contracts that way. How do you get out contracts that you no longer have an interest in? If I can't figured out to make a deal work, what can I do to safely back out?