They have a group that specializes in Property Management. 

It was a flip sold by another local agent, didn't need inspection due to my husband and biz partner being a contractor, negotiated price down.

But as long as you keep your fire fighter job at least you will have health insurance through that which will save you a lot compared to a full time agent.

I think what you’re referring to is a checkbook IRA so you can bypass the custodian when performing transactions/investing and all assets/accounts will be held in the name of a special purpose LLC or Trust which is the instrument that gives you checkbook control.  

And they are not working for pennies—many are earning $40 an hour or more in skilled trades like construction, landscaping, and specialized farming."

Quote from @Jamie Lynge: I am a Medicare insurance agent living in NW Arkansas.

To find good deals, consider networking with agents and local investors, as well as using MLS, off-market listings, and auctions.

Since it sounds like you are working without a real estate agent, I would contact a lawyer to review the contract and help you notify the seller's side correctly to terminate the contract and release the EMD.

Is your agent giving you guidance around this? 

Quote from @Bryan Martin: I invest and live in Springfield and also run a CPA firm that specializes in Real Estate investment.