From my understanding though, with land contracts, most buyers put hardly any money down. 

It may be the type of rental that is turning buyers off. 

He'd accepted an offer of $120k before the other buyer pulled out.Link to Zillow ListingI know he's had quotes of $30k-$50k to put a new roof on and repair some structural damage due to neglect. 

Hi All,I’m new to this forum, joined recently but have been reading around for a few months.My husband and I are wanting to Explore our options for real estate and hopefully have a few rentals.  We’re here in Orange C...

If it were me, I would have your agent call both of the buyers' agents and let them know there is an another offer. 

I have a buyer but he said it’s worth 40k and he can close immediately, however I have it under contract for 73k the buyer said he will give me 5k as a finders fee.

I guess the same could be accomplished with automobiles and other typical tax write offs.In summary, what might advantages or disadvantages of leaving the wives off on putting them on the LLC?

Questions:-should I stay away from investing in a town home due the common risks (smaller buyer pool, potential HOA issues, large competition etc)?

The fees for a Buyer's agent are paid by the seller, not by you.

Second, and perhaps most importantly, it's land-locked behind another property, so I don't even know if any buyers would even have access.