My $10k example was admittedly unrealistic.However, by way of further background, @Dustin Heiner wrote an excellent article on this topic on his website masterpassiveincome.com titled "What to Do When A Buyer Backs Out From An Assignment Of Contract".In it he suggests a scenario where the assignee decides not to proceed, perhaps after discovering a big ticket repair item that would cost significantly more than the portion of the assignment fee held in escrow. 

There is a great article on the llc vs no llc debate on BP with many comments from both sides. 

But finding deals in Huntsville/Madison right now is virtually impossible unless you have numerous and strong connections for off-market properties.  

You realize quickly you have to walk numerous properties to learn, create a SOW, create a budget, and see if a property is even worth an offer.

From insightful articles and podcasts to detailed market analyses and investment calculators, there's something for everyone. 

I would recommend reviewing this 5000-word article I wrote on the topic of due diligence (much of which is about the walkthrough).

@Jacob Sherman I’ve done this numerous times, as have other investors I know, and none of us has ever had a lender trigger the due on sale clause.

Ask about financing and see what their rates are AFTER they give you price quotes.The parking lot is currently causing significant flooding, along with numerous cracks, potholes, and tripping hazards.

They may also not account for finishes, or budget appropriately for required permits.Try googling "Comparing Quotes and Proposals from Different ADU Builders" for a full list of what to look for (I can't link here because it's my own article).

Read these articles before investing in the Midwest: https://www.biggerpockets.com/forums/12/topics/1171104-the-m...https://www.biggerpockets.com/forums/48/topics/1159104-overl…