They've got their finger on the pulse of MLS, get handed opportunities before everyone else, yet so many are just content to make a commission.

I have my finger on the pulse.

But after seeing all the work I put into it, he said I saved him from purchasing a headache.And he was right.But had I set my morals aside for a moment, I could have evicted the tenants from the previous "turn-key condition" property and moved in without lifting a finger to fix up the place. 

Also I didn't know anyother way.This was the most killer point in the entire thread:A common theme seems to be out of state investors buying cheap houses, doing $5,000 cosmetic "rehabs", renting them out, bragging about the positive cash flow for awhile and then BANG, a few months later they are back on BP, screaming bloody murder and complaining about the leaking roof that has caused a ceiling to collapse. and then we have Big @Ben Leybovich , piling on, pointing out the smeared lipstick on our $30k pigs, dancing on the dead carcass of the out of state investor, and "P r o b a b l y" wagging his "I told you so" finger at his computer screen, and grinning ear to ear as he pats himself on the back for being right again.  

Now I know everything has be given a month in advance, so I'll basically be living on their current verbal agreement for a month (fingers crossed it doesn't have any crazy stipulations).  

The house was a short sale so it didn’t have any major issues or defects, in fact, it was in such a presentable condition (except for the paint scheme which was otherworldly to say the least) that we could just turn around and sell it without lifting a finger.

It sounds like your Realtor has his finger on the pulse of your particular location and surrounding areas, and that is why he is suggesting to follow his lead. 

(We've primarily been looking at single fams on good blocks priced between $120k and $150k and multifams priced up to $200k-$250k—outside of the flood zones to start.)We're especially keen on the idea of finding a good multifamily that would work as a 203k rehab (and that would be within reason for a couple of beginners to take on) and still have our fingers crossed for a great option on that front.In the coming months, we'd be very interested in meeting good contractors, reliable wholesalers and older investors who might be interested in saying hello.

Finger; forfeiture generally not favored; Courts of equity will try to place the rescinding parties to a bond for title as near as possible to the position they were in prior to the contract.

I'm scheduled to see the house on Saturday and will be bringing my father-in-law with me as he has 50 years in the contracting biz (he can ferret out problems like no one I've ever seen before).Fingers crossed I find some additional leverage :-)