A lot depends on the contract between the buyer and seller; whether full disclosure was made; and whether the seller is able to utilize consumer law or whether both parties are real estate investor/professionals.“ Would you also say equity skimming can't occur because buyer never accepted responsibility for the loan?”

However, when I’m told on the day of closing they need an appraisal and won’t be funding to close, that isn’t professional.

Most professionals will recommend a separate LLC for every $1 million in assets, but I don't think that's necessary.

Again, large commitment of time, patience, and ability needed.The amateur of “semi pro” investor should realize that the professional investors (such as myself) spend ALL DAY EVERY DAY doing the above.  

That would probably require a professional. 

Quote from @Polat Caglayan: What do professional investors think about Detroit's course and future? 

However college kids or young professionals will most likely not care.In Danbury you have to look out for hidden gems.

Timing and location critical Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Would have done better if not slowed down by COVID in 2020 Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Readers should seek professional advice.