Every escrow and property is different, but as long as the contingency is exercised in good faith, it is up to the buyer's discretion and approval for the most part. 

My faith in property managers is about as much as I trust my 5 year old to drive me to work.I went through two property managers (Gage Froerer Century 21 and Accuity Property Management) and realize one has to choose property managers as carefully as you choose your tenants.

It is wrong to trap them simply because you are worried the next tenant may not be as faithful.

@Sean OToole @Andrew Johnson Thank you for your advice and encouragement, seeing that both of you also struggled with pulling the trigger on the first deal puts a little faith back in myself that I'm not completely missing something.

To start, you can most likely do an initial pre-qual based on an application  - that should get you what you need to show intent good faith.  

Are you a faith investor expecting to make your profit on appreciation.Considering it's CA you can not expect to make positive cash flow.

This as faith investing since you must have blind faith in the expectation that above average appreciation will continue to the end of time.

Remember, these borrowers don't qualify for conventional financing such as an FHA or VA, if they could they wouldn't take a high rate loan.Another aspect, you don't want to take all their money either, they must have funds in reserve as any car repair, or fridge going out or hospital trip will put them in the hole and the pattern of default begins.Kinda hate to say it this way, but many low end buyer/borrowers are almost childlike, they beg for the deal, they make poor decisions accepting questionable properties, they will promise to be good and they will have good intentions.

Out of state SFH property in arrears. A son is negotiating with his owner mom who is behind. The son needs a cash partner (me). He has another investor offer on the table for 350 cash, but the son wants to buy/hold an...

Note.. any other person would not share the property that they are hunting for.. but I am sharing it... because I believe in the good faith and wisdom of people and desire to help.Thank you for advice ahead ahead of the time...