I believe you mis-understand the process.

This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

Make sure your financial advisor understands real estate taxation, financial planning and tax planning. 

I understand the pros and cons of both so no real immediate preference.

Folks just need to understand things never stay the same..

Anyone with the capabilities to do basic research knows and understands this. 

They are prompt, proactive and understand property management from an investment perspective.  

That’s okay—what’s important is understanding the "why" behind your investment decisions.While your accountant’s suggestion is a great starting point, make sure investing aligns with your own goals and situation—not just because someone else is enthusiastic about a particular strategy.

Buffalo changes very quickly block to block (not just ZIP by ZIP) and it is crucial that you understand this prior to writing any checks. 

I understand that at my age, focusing on properties with strong equity growth potential (even if cash flow isn't immediate) is a solid strategy.