My plan is to only purchase 1-2 properties per year, though, which is probably the main reason why this approach works for me.If you don't trust your realtor, I'd say maybe you should maybe find one that is a better fit?

Whatever I say there is in all or nothing approach.  

-Many newbies are offended by this approach as they expect to be handed everything on a silver platter.My #1 issue is that many newbies don't even take the time to think & create a good, specific question!

The contract is legally binding, and if that happens you'd have to prove that you were under contract with the seller when the buyer approached him/her.

I believe this approach helps build relationships with REI and myself. 

Well, I think it's because I approached and run it with a focus of running a dang business, NOT as a "investment". 

I'm not sure of the situation but based on the info I would approach this differently.

However, I’m also contemplating learning the flipping business, either by working with a flipper or trying it myself, to generate a larger cash position.I’m open to the idea of out-of-state investing but would approach it conservatively.

There are pros and cons to both approaches, so I would love some input here :) Alternatively, if this doesn't seem like a good enough deal in general, please let me know what you think!

Approach the current owner and ask them if they are interested in selling.