I use Chase, too, and I'm surprised they would consider an investment property at all.

If your not getting offers acccepted your offering to little.Where do you want to start this learning curve.....I think I'm far safer offering to little than too much and gettting no property then raise my offers some until I start to buy some.......then dial it in until your buying just right.And goldilocks said this offer is just rightthe bears would have eaten her if she started with the offer that was to high.She would have been safe if she started with to low an offer.determine rents for comps in areaIf it will not cash flow income covering all expenses plus what you consider an acceptable margin, dont buy it even if its 25 cents on the dollar.If it for some reason dosen't sell you can still rent it to cashflow

(Some financial institutions may consider an option with 5 or more renewable years, a mortgage-and you could score a loan for the property when presenting your lease-option to the financial institution.)Continue to research real estate contracting strategies. 

Define your objectives, develop a plan, work it, and once you have some success then consider an entity.

If you are Flipping or Renovating to Hold you should consider an Agent that has experience with construction. 

I have always been hesitant of condo's as i feel that a townhome attracts a broader audience - people that would consider a home, or consider an apartment.

They consider an contract that has contingencies as having possible roadblocks.

Insurance would cover it, I would pay the deductible, and no assets would be lost.If you are in an area like San Diego where people are more likely to sue, a judge is more likely to find you guilty, and the payout is likely to be higher, then you may consider an umbrella insurance policy.

You might consider an umbrella insurance policy (maybe $1M) to protect against law suits.

The rub in many states is that they consider an "assignment fee" an agent fee or commission.