There is PLENTY of information available to learn the business BEFORE you start so that you don't need to lose money on a failed deal (or even worse a failed business).

So, not only are you paying cash out each month, you're probably losing equity each month.

Tenants, once approved for subsidy, don't like to risk losing it.

Couple is losing a house due to a default on a land sale contract.

If for some reason you decide not to follow through with the purchase you WILL lose your option consideration.

Nothing like a little (or no) knowledge to cause one to lose all that they own.:)

They will want their fee, but if you are in a pinch, it's better than losing a deal.

If you do not have any contingencies or escape clauses you could lose whatever deposit you put up and the seller could sue you for damages.

I'm also a professional poker player who's transitioning into buying real estate rentals.

You don't want to be in a position of being the bank (that's what you are as the lender) that has to do a short sale (that's your money you're losing on that short.)If its new construction, and you're making a construction loan, you're in a much riskier position.