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.

Anyway thanks for the input and if you can recommend an *excellent* PM I would appreciate that and probably reach out to them.Cheers

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

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. 

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!

It is pretty standard for loan documents to be 100's of pages, so you'll get the hang of it once you find a good/credible lender and gain experience.

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? 

BiggerPockets is great for real estate networking, but you're missing out if you don't leverage the sheer size of platforms like LinkedIn to start building business credibility.