You are now saddled with bad debt feeding the beast each month.Check your local landlord/tenant laws and see how long it takes to get a tenant out (eviction).If you want to be a residential landlord you might want to buy a vacant value add and fix it up to get rent ready ( not sale ready) and build in some equity upside.

No disrespect to the one you have, but he should be feeding you all this information and more, and making sure to crunch the numbers for you before he ever presents a property to you.

Please I'm super open to constructive feed back!

And as I've said, to me $7,000 a house when you are investing $200,000 to $300,000 per house and holding for 4 - 5 months is chicken feed. 

Some brokerages have retainers for an attorney on call.Brokers talk in the business and some agents causing big waves and headaches they give a heads up through back door channels to stay away from them and not add to their firm.No legal advice given.  

Are they found through traditional channels like Loopnet, or are they off-market?

Though to be realistic, in a market where investors are in a feeding frenzy over the deal types I'm looking for, what are the chances someone will actually agree to sign a contingency?

It was a feeding frenzy.

Grow a thick skin, don’t feed the trolls, as we say in gaming ;-) , and push forward.

Nice thanks for the feed back.