The deal I was engaged in was very good from a cash flow perspective ($400/month with 11-15% cash on cash return depending on what the final numbers would have been), however the seller terminated the contract after I offered the appraised value as a counter offer. 

If I get a counter offer, I will get more exact with these numbers)profit: Subtract out whatever profit you want to make.

I've purchased a few notes from FCI Exchange and although they charge a brokerage fee, they do provide escrow and the ability for you to review the collateral and counteroffer the seller in a formalized way.

Until then, it's automated submission and counter-offers.

I've seen REOs listed at 300% above market value, and I've seen them listed at 50% below market value...and everywhere in-between.Your offer should be relative to what you are willing to pay, how much competition there is for the property and how badly you want it.That said, these days, for most properties listed less than 30-60 days, you probably won't even get a counter-offer if you don't offer at least 80% of list price.

., as opposed to a full bank statement that could prompt a counter offer.

If you want to accept back-up offers, this should have been disclosed to your current buyers usually written into the terms on the counter offer.

It's true.Most seasoned investors calculate what it should really be worth after deducting rehab costs, deduct a little more and then tell the seller, "This is the only price that makes sense for me. " They'll either say, yes, no or make a counter-offer.  

I have increased my price once responding to Seller's counter offer.

You will either get yes or no or counter offers from those partners and then you can decide if you want to move forward with that partner or not.