@Adam Greene the land is northwest of Burlington, OK, just a few miles south of the KS border. 

Then when I asked him to send me the 35R to sign and make it formal, he said they wouldn't take a discount.As a result I told him to cancel the deal then, marking the response/inspection as unsatisfactory.

We are looking to have a formal conversation with an acting real estate attorney so that we can ask our list of questions and gain some of their knowledge base.

The parcels are located in Franklin Park and border Olde Town East, so it's a VERY hot location. 

Delaware is a small enough state that I actually started calling places in surrounding Maryland/Pennsylvania/New Jersey because everything is so close on the state borders.

Primarily Oklahoma, but have purchased a few in bordering states. 

My wife and I have are relatively new to RE investing, and are formally saying hello the BP community.

Check back with me in 30 days and I should have a formal proposal .Side note - I have read on BP and am also finding locally credit unions are a good source for investors.Best wishesChris

I have always done an informal pre-screen,  talked to people in person and then a formal background check before renting to get a good feel for them and am not fully comfortable renting sight unseen - however I don't want to turn down someone that passes a background check and seems to be a good fit. 

If it is something that is going to resolve itself quickly and it was a good offer it may be worth waiting.If the contract specifies a loan approval contingency date and they are not able to produce a formal loan approval from a lender by that date the contract should also be null and void.