You won't receive nearly the amount of buyers if you do a FSBO, and of course you have the chance of something going wrong with the paperwork. 

Once you've had a chance to see how the property performs, you can revisit the idea of giving up your W-2 job.

Never know if they will accept.You can increase your chances of success by also including rental comparables in the area to show how much their rent is under market.

In other words, the expense saving was rather certain but our chances of recovery on the PG seemed slim.We completed the deed in lieu over the summer and began marketing the properties immediately.

I can tell you, however, that if you vet a qualified buyer and don’t show him a property because he wouldn’t sign a commission agreement, you stand a much better chance of being sued, and losing.  

For example, if they have a financial issue they know that communicating proactively and honestly gives them the best chance at getting a late fee waived.Also, when I am being flexible, they are reminded that I am being flexible.

You can only live so cheaply, but good chance you can find a new job that can increase your salary $10-30k especially as you gain more experience in a career. 

Property Management Experience:Living on-site game me a chance to learn about property management firsthand.

When you buy with an assumable loan (all FHA, VA and USDA loans are assumable) you will buy with 2%-5% interest rate that will give you a much better chance to profit when it becomes a rental once you move to the next one! 

And chances are even smaller where you are scrapping from the leftover garbage to find a good deal.