Thanks @Henry Lazerow, that is basically what we do in the city. 

Lol  Just cancel it then and walk away :)  take the write off at the end of the year.

We value the opportunity to work with clients and partners in the real estate community.To address @David Ramirez' suggestion, if any title issues are found, the earnest money is fully refundable.

There are always people entering the market and leaving the market all the while the many investors that do this for a living will stay and grab deals.

@Ben StavrowskyI love the ambition!

I have over 30 years experience in operating office buildings in NJ and would be will to run the operating arm of these investments for a % of the deals.

I agree with the majority: the wisest move is to live in an affordable market where your dollar will go 3x as far.

Look at all of the costs and then all of the revenue and make a decision based on that. 

I'd probably forget to re-stock the "forgot" basket and then get a complaint on it.   

I would guess that an employee in the zoning department could answer questions, too.