I then assigned and sold the contract for $2.9 million and made a $100,000 assignment fee.

If a inspection uncovers something hidden, I would still renegotiate or walk away.  1a) I would never buy a condo as an investment for many reasons.  

An institution might have offers that waive a fee, but not necessarily an "Intro Rate".MY 2 cents,Mike

Buyer put down $125k plus $40k assignment fee for the 9 houses.

Most states have relatively low fees.

A property manager can make the process easier by handling the day-to-day coordination, but the 10% fee might not be worth it if you’re comfortable managing things yourself.

Needless to say everything became a nightmare because we had a vacant house that's always been uninhabitable and now we have to sue 2 contractors, pay attorney fees, and keep paying the monthly interest-only mortgage payment of approximately $1,300.

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In the event of default/non-performance on a CFD for vacant land in one of the hypothetical "foreclosure" states I mention above, does the land parcel have to go to auction, with bidding starting at the unpaid principle balance of the contract (plus late fees, legal fees, etc.)?

I also pay a 1,000 finders fee for any unlisted property someone tells me about that I buy.