If you throw in the towel after one failure, I'm not sure you've really learned anything.

You don't want a failure in the middle of winter.

I completely disagree with the lege and Texas Real Estate Commission that failure to disclose is brokering. 

For me, I would need them understand this was a failure on their part, and it can’t happen again.

Also, this agent appears to be a novice (or setting you up for failure) as they should know about what areas have growth potential.$100k for a 2/2 is high for the City of Detroit, unless at least Class B.So, you should take time to understand the NEIGHBORHOODS in the City of Detroit.You might want to follow the "Deep Dive" series we're doing on our BiggerPockets blog about Metro Detroit cities, City of Detroit Neighborhoods and comparing Metro Detroit to other hotspots investors usually consider: https://www.biggerpockets.com/member-blogs/3094/99854-deep-dive-into-metro-detroit-cities-ecorseContact us with any other questions:)

It was literally designed to facilitate failure. 

When they finally move out, you'll discover a ton of unreported maintenance and possibly damage caused by failure to maintain.Landlords should encourage tenants to report maintenance issues.

Accept whoever applies" is an idea that would cost you a bucket of money in the long run.Bankruptcy is usually a "no" unless it appears to be a one-time event caused by something out of their control such as a massive medical bill or a business failure. 

Plan for those system failures on a spreadsheet. 

Flipping is hard and has a high failure rate even with experienced people.