Anyway, I'll close with the thought that if you're motivated enough to start real estate investing, you're better off with an excel spreadsheet and staying away from Flipsystem.

Many investors have achieved excellent returns here, making Richmond a great place to build capital for future investments.

I've been in tech for over 30 years and in Real Estate for over 20 years, our REI deals are still stressful even with excellent tech, resources and processes. 

The sponsor has an excellent track record5.

Purchased for $200,000 with a same-day resale value of $233,000, the property offered excellent returns.

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. 

Couple that with an online coupon and you have an excellent deal!

Do I just need to give the excel sheet I created to the real estate agent or so I need to actually have a formal offer written out? 

REI Hub is excellent and inexpensive.

If you don't have the stomach for that, hire an excellent property manager and let them be the bad guy.