These deals are very risky, frequently fail, require locking up your capital for many years with no ability to cash out or sell your position. 

However, when the first buyers failed to come through with cash as specified in their terms, the seller pulled out and offered us the opportunity to purchase the property at the asking price, and we did.

@Melissa Vass Scotthello - here are some miscellaneous reactions and questions for you"it seems as if the MidWest is the place with the best returns"--well, there are investors succeeding and failing in every state in the US. 

Few bookings, lots of cancels, inaccurate information and a total fail synching with other software.  

The majority of homes are owned by homeowners not investors so they fail to put themselves in the shoes of a homeowner or look at data from the standpoint of being in the minority. 

Had mortgage and note on the property.Buyer failed to get insurance is my understanding even though it was in the agreement. 

This is obviously not a get rich quick scheme, and like with any business out there 99 out of 100 who try it will fail at it.

If the Tenant fails to obtain or maintain renters insurance as required, the Landlord may purchase a force-placed liability insurance policy to protect the Landlord’s interests.

If they have the money they pay. if they don't have the money an automatic payment fails and probably charges them an overdraw fee making them a little LESS able to pay you. 

Septic field lines failed in backyard and installed new small Elgin septic fields in front yard between drive ways and put a motor and dozing tank to collect from both septic tanks and pump through crawlspace for 30k 4.