There’s other contingencies you can use too, financing, feasibility, environmental, neighborhood review...Have your DD start the 1st business day after they provide you with all the documents, P&L sure, but also you’d want title docs, details on mechanicals like age, repair history and warranty status, insurance claim history for the last 5 years, every scrap of detail on any pending claims, zoning use confirmation from relevant govt entity, copies of all docs they have received from any govt authority related to the property for the past 5 years... there you’d be looking for code violations, notices from EPA or fire marshal, etc.  

It can be helpful to have an authority figure like your closing attorney to explain the way deals are typically done with the Seller.We've put up earnest money deposits large and small, slowly and immediately to not only closing attorneys but also directly in the Sellers' hands.

:PFor book authors like yourself, things are often a bit silly.

@Manny CirinoMy favorite is blue ocean opportunities in commercial real estate - incredibly motivating and detailed plus a real story of one of the best real estate gurus whom I met after that and applied his strategy to make money successfullyBtw he practically gives the book away for $2 to help others - well Cherif Medawar, the author is worth millions so he can afford it but the key thing is the content is amazing https://www.amazon.com/Blue-Ocean-Opportunities-Commercial-Estate-ebook/dp/B00EKNF71U

This means that most investors learn of them through word-of-mouth (such as your friends that told you they are doing it) or by seeing a blog post, reading a book authored by an investment sponsor, hearing someone on a podcast, or whatever. 

AJ,An investor with many, many properties within the Atlanta Housing Authority (manages "Section 8" in the city of Atlanta) program explained it to me like this: "Once you get familiar with AHA's systems and processes, you can do very well.

I contacted my lender and they said  they don't service LLC Loans.St Petersburg Housing Authority is paying rent to my LLC and the Insurance for the properties is all in the LLC. 

You might come across that term, look it up in the book and decide you don't need to investigate it further because you have other metrics you are focusing on right now, but at least you understand the basic idea.I think this reviewer had an unrealistic expectation of the depth an author can get into in a book that defines and gives examples of 37 different financial metrics.

You'll need to get info specific to the taxing authority where you're looking to purchase.

The first Lien told me they would not tell me anything within an authorization to release from the borrower, which the borrower didn’t provide.