You start with the intent of buying and holding and something compelling forces you to change your intent. 

But yeah....OBVIOUSLY a sponsor should exit when the economics would compel them to do so.

Most agents will want you to have a pre-approval, but the fact that you are reaching out to loan officers to get it will be enough to get the ball rolling.These 2 are your core when finding a property, make sure you enjoy working with them and trust them. 

Get to the core of the problem and do what's right.If you decide to somehow not cover the damages and you get to get away with it, I would also start looking for new tenants.

It's just as well because recently I was compelled to review the terms of my mortgage contract and came across a 'Grounds for Acceleration of Debt' clause which says the lender can request the balance of the debt if the contract is breached.

I have listened to thousands of hours of BP podcasts (as well as others) and audio books on the various forms of investing.I am "that guy" with 800+ credit, what I believe to be more than adequate knowledge, great communication skills, a real estate sales background, and very little REI experience.I'm anxious to find a great Core 4 (Lenders, Deal Finders, Contractors, Property Managers) and start a successful buy-and-hold REI career, locally and/or long distance. 

Unless there's a compelling incentive (Eg it's a deal now) you can really build it so you learn what your blind spots maybe and have the expertiseThe only reason to jump in is if you are someone that will back off easy if the going gets tough for any reason which I don't see to be the case given how you work with numbers well :-)

I have my investors stay in strong suburban to urban core.

Or why not pass a criminal defense law that says the prosecution cannot spend more money than the defense (equal funding to both sides) - so that less people are compelled against their will to take a plea deal that includes a conviction just because they're scared to get a worse outcome if they go to trial with a public defender with 1/10th the budget to put on a defense.

Whenever you are buying a property out of state you should do a few things to ensure it's as smooth as possible.Don't buy in the roughest neighborhood in the urban core.