Why not strike up a conversation with them about that? 

A better move for both of you might be for him to sell you a {transferrable} purchase option:it removes your obligation to perform under an agreement of sale; the option fee is lower than the 10% EMD (but non-refundable);the option can be structured to be non-exclusive (for a lower fee), allowing him to sell the property himself (perhaps only at a price higher than the option strike) if the opportunity arises.

So that's three strikes against it. 

Two years later, many other aspects of life are under control, and we are finally ready mentally to strike out again, much more intensely this time.I believe our debt, in the form of student loans, is one big hurdle to cross, as is the fact that we have almost no professional network in the area.

@Patrick Costello You can strike San Diego off that list - you won't find a duplex in SD in that price range.

I keep striking out due at the moment.

I know it's been said that you can't find deals in Texas with this type of conservative underwriting but I'm acquiring this property below my strike price. 

I'll agree with others and the observation that you will  need to analyze and make lots of offers before you strike gold.

This reminds me of the "Profit First" model and strikes me as a quick way to weed out a deal as you get into it.  

This isn't a strike against the Realtor - I put a property under contract last night that the client chose.