They are in the best position to accept a deeper discount on a ho-hum note, a default or a slow pay as well as a performing note.    

I understand the need for a seller to avoid buyers who are not serious, but they could easily keep marketing and accept back up offers during the 1st buyer's due diligence phase  in case the buyer flakes on them. 

Is that acceptable for you?

We put in an offer about 2 weeks ago that wasn't accepted by the owner, and while it felt good to 'start' I think that in some ways I've slowed down since then out of fear that we won't 'get a deal'! 

An agent will only accept a contract that is standard, the one written by the Maryland Association of Realtors, and that contract is not assignable.

Can you please accept ?

I know that what I say runs contradictory to the mainstream way of thinking.

Many of us come from commercial and me particularly government contracting, I don't as much enjoy when I work with residential, if we accept a sub 25k project, it's like working for free.

So I am reading The Book on Managing Rental Properties and Brandon recommends taking a deposit within 24 hours of accepting an applicant.

You have to decide how much profit you will accept on every deal before you buy it.The other issue you have is to find a better team of remodelers. $40,000 is a hell of a lot of work on a single family.