Once the option period is up, cancellation would only be for items specifically named as contingencies, such as financing.   

I think there is a big opportunity around some specific spots around Atlanta in the next few years. 

This is very much lender-specific and will vary. 

Others will have more specifics to share.  

Is there a specific search filter that works well?

More specific: He stole months of rent and utility payments from a tenant (and threatened to evict her!)

I dont know the area, or the county for that matter, whatsoever.I did some preliminary due diligence on Clinton, including 5-year population trends, demographics, rental rates published, and some other region-specific data. 

@Pete Tarinthere could be tax benefits - you might be eligible for passive losses, but it would be specific to your situation. 

Those who are here for a specific purpose like finding deals or raising money typically struggle because the more people you help, the more people are willing to help you.  

Related - when you introduce yourself, make sure to call out your market, what you want to learn about, and who you want to meet very specifically.