This would be my first real estate investment, making the decision even more critical.I understand that backing out would mean losing the $2,000 earnest deposit.

i would not buy a random property in Alabama that you find on Zillow and turn it over to people you've never met just because the price point is appealing.here are some threads on how that can go:https://www.biggerpockets.com/forums/48/topics/1160450-run-i...https://www.biggerpockets.com/forums/12/topics/1215726-break...https://www.biggerpockets.com/forums/48/topics/1137397-balti...i own property in 3 states - happy to answer any questions you have.

So I wouldn't make a selling decision lightly (or a rental decision) and I am really loathe to give up a good property with a rate that may never be had again.

@Griffin Brenseke The decision to sell vs hold a property is full of those little decisions you describe that make such a difference in cash flow.

In this case, they get equity but do not make decisions. 

@Joey Chalhoub This decision should be read narrowly to address statutory frameworks such as MN where state law permits it to take property to satisfy real estate taxes/penalties/interest, sell it, and keep any surplus outright.

https://www.biggerpockets.com/forums/51/topics/1113749-cost-segregation-faq

i'd pick a market close by, or that you have a personal connection to, or that you visit often.chasing cash flow by itself can lead to negative outcomes - for example, these investors bought in supposed "cash flow" markets:https://www.biggerpockets.com/forums/12/topics/1215726-break...https://www.biggerpockets.com/forums/963/topics/1195280-expe...https://www.biggerpockets.com/forums/48/topics/1137397-balti...hope this helps.

Feel free to reach out if you have any questions.https://www.biggerpockets.com/forums/432/topics/1013061-sect...

➡️Underwrite deals with data-driven decision-making.