I have done it a couple times myself.

EDUCATE YOURSELF - yes, it will take time, but will lead to a selection that better meets your expectations & avoids potentially costly surprises!

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In my experience, a suit for specific enforcement of a real estate purchase contract is not particularly complex or fact intensive that would lead to extensive time needed for discovery. 

I'd talk to your broker on what it'll sell for after the fact and where the market is heading over the time you plan to own it. 

We’ve got one big player that probably has at least 600 units with their own rental office and full time maintenance crew.

If the reduction helps the property rent in less than a month, then you have only lost $1200 over a 12 month period of time.

I've learned a lot over my time investing in small towns and have found some great opportunities but just like any other niche market you better learn what you're dealing with or you'll get burnt.

My two year at the time old grab the edge to help stand up from the seated position on the floor and the glass stop slid off and almost caused severe harm.