Do you have enough cash reserves if your REI doesn't work out? 

After an hour session, problem solved.

If I have partners I guess I could always use them as the POF base in stead of myself.I understand not being able to list the contingencies for a land deal but its really as simple as saying "Due Diligence" and then when the number don't work out in your favor, once the DD is done, you simple say the numbers dont work and you get to back out with your full EM payment?

I bought two of these awhile back and turned them into performing sfr rentals at around 35k plus quite a bit of sweat total invested for a rent of 1550 per month.They didn't all work out, but some worked out great.

@Chris Jurgens, run your numbers and you can find out, I use this simple bar napkin math to quickly analyze, and then if those numbers work out, I analyze in depth. 

It's bound to work out better in the long run.

You can find your tribe through MeetUp.com where you should especially look for your local Deal Maker Session, NationalREIA.org to find your local REIA, and look for any local landlord associations.Welcome to real estate investing and good luck to you!

Not only did Josh and Brandon team up to write this ultimate guide, but they’re teaming up to participate in a live author Q & A session—exclusively for people who buy this book from biggerpockets.com/store!

That will come if and when your numbers work out in favor of a positive cash flow. 

How did you agent work out?