I'm not going to repeat the SEC filing and county data facts here, but I posted details on this BP topic (post is toward bottom of page 3): Fannie Mae tightens lending standards on Investment HomesUsing the quarterly differences between on 2019 foreclosure counts (recorded counts) vs. 2020 foreclosures, the "pent up" opportunity (the Serviceable Available Market) in Wake county is on the order of a few hundred properties.  

I think everyone hit the nail on the head here trying to help you tighten up your criteria.

Something like this would certainly put a strain on my business even with my reserves.  

Hi @George You The Galveston market has tightened up on the supply side.

The area I live in never saw insane value increases, but, we are not seeing huge downfalls either, values are still going up on a regular basis.Perhaps, but the fallout from the bubble markets are having effects on the entire economy and country, from bank failures and credit markets seizing to lending restrictions being tightened across the country, which affect everyone.

Get the decision-makers or influencers some cash and their ear.. then lastly, there's bumping up the purchase price if it makes sense..3) Tighten/eliminate contingencies to your comfort level, shorter close4) Offer a small non-refundable deposit, to show them you're serious about it, and not just fishing around, with no money on the line5) Provide asset statements showing you have plenty to cover it, even if you don't plan on going higher or even paying cash..6) Send a letter with your asset statement demonstrating your track record, your plan, cash to do it, that you're comfortable so far etc..

For example, is the seller willing to do a land contract at terms that would make the deal less of a personal strain, at least for a few years?

For basic unskilled labor lately I was paying $15/hr whereas I was at $10-12/hr about 3 years ago and sure, at times struggled to find resources - things have tightened up.

At the end of the day a specific performance claim is very costly to pursue and the value of the asset and your damages are negligible... just move on if that was the case. cost of doing business.Now you know to tighten up your contracts.. and when you have a pretty hot market like in most markets for low end assets..

The first flip I did, I walked right by the giant water stain in the ceiling, and said "oh that's probably just a few rivets on the metal roof that need tightened."