From what I have seen, the typical remedy is termination of the contract, refund of the EM deposit and all expenses incurred by the buyer during the failed transaction.

If not, I have a lot of local knowledge and the typical trends of many of the Atlanta suburbs.

That being said, your typical cost of capital is as follows:EquityAgency debtBalance Sheet local lenderDebt FundPrivate DebtPref EquityHard Money DebtBookie/Loan SharkOther things that will impact capital sources: are you wanting to finance the improvements, or will you pay for those from equity/cash flow?  

If your contract states that "time is of the essence", you could have forfeited your right to break the contract and get your EMD back simply by not adhering to the dates specified in the contract.

- A 0% down, seller financed deal, typically equates to little to negative cashflow!

If the state matters, I'm interested in Connecticut@Matt WanThe key to understanding being “in person” is that you can be “in person” anywhere there is a notary or other person who can certify your signature… typically.  

Leverage will be reduced from the max available, reserve requirements increased and, typically, you would be required to use a professional property manager.

The typical term of this loan is 12 months and rates range from 10%-12%.

FHA loans typically require the property to be a primary residence for at least one year, so he should confirm compliance with his lender.Once rented, he can deduct expenses like mortgage interest, property taxes, maintenance, and depreciation starting from the date it's available for rent.

Google permit expeditor or ask the county who typically is used.4.