If there's a clause that allows you to back out due to new findings or due diligence conditions, you might be able to retrieve your earnest money deposit.

therefore the OP will have a foreclosure on his/his LLC credit record, which would inhibit them from borrowing money for maybe 5 years.

Quote from @Patrick Wood: I am new to real estate investing. 

People always think they will save money by managing themselves, but that is obviously not the case.Best of luck!

I’m invested. 

Then you can read a more in-depth book like The Book On Rental Property Investing by Brandon Turner or The Unofficial Guide to Real Estate Investing by Spencer Strauss.You need to get a firm grasp on two things: the ways to make money with real estate, and how to find deals that match your goals.P.S.

I have been going back and forth between an appreciation focused investment versus a cash flow focused investment.

And, since 2012, after FHFA was back on its feet, the Treasury has been paid an ongoing dividend on the earnings of FHFA. ie the government / taxpayers are making money on Fannie and Freddie, for bailing them out (more on this later).

There are tons of hard money lenders out there, my question is why them?  

Basically, the money used in this type of financing comes from "Wall Street".