My experience has been that purchase transactions where the buyer has no or little skin on the game have a default rate many times that of buyers who place a significant down payment into the deal.  

Review what happened and determine why each item was above or below your expectations so that you can properly plan for next year.Review your prior year goals.Did you buy all of the properties you set out to purchase?

In my state the standard contract used by realtors addresses this issue by allowing the agent to check a box specifically to limit the seller to keeping the EMD as opposed to going after "liquidated damages" like that.

Hello,I'm looking to purchase a condo as a LTR investment but have received some conflicting advice. 

Specifically for the missed items during the review prior to the initial call, as well as the piece on no action plan.

By purchasing this property, I now have very little money, but I still want to invest.

Quote from @Jack Townsend: I heard David Greene mention a loan product that only requires a 10% down payment on the purchase price and 10% of the rehab budget.

Here’s MY general feeling; if a MHP isn’t TOH, or I can’t easily switch from POH to TOH, then I might as well purchase an apartment complex and have less problems.

DO NOT purchase or rent from these groups!! 

Purchase price: $55,000 Fix and Flip Purchase.