And there should be a couple of contingency hurdles that have to be passed before you can actually close. 

It was actually under contract with a contingent offer for months, so I suspected something may be up because at the time the velocity of transactions was insanely high in my area and closing times were as low as a week.

If you let people live for free, then a certain contingent of bums and losers are going to do so, and you are going to make life infinitely harder for the other people who are on the edge but working as hard as they can to keep from falling off the precipice.

Typically we would make this type of contingency with a kickout clause...the time for notification and performance to remove the contingency. 

Then, work with an attorney to put everything in writing, covering multiple "what if" scenarios and all possible contingencies. 

Add contingencies to the contract to protect you.

Hello,I cancelled escrow within the 7 day contingency period and the escrow company is charging me 400 Cancellation fee.

Attend real estate investment seminars, workshops, or meetups to expand your network and learn from experienced investors.Risk Management: Real estate investing comes with inherent risks, so it's essential to manage risks effectively by conducting due diligence, having contingency plans, and being prepared for unexpected challenges.I hope it helps :)

If not, then better have a financing contingency.  

The other constraint, the seller is not interested in a 1031 exchange if it means owning/managing another property.So far, the only concept I can think of is something like a contingent title transfer upon closing.