What are your hold period options?

Also sometimes in a rising market if they feel your offer is low and property is newer to the market there might be a required waiting period to see if other offers come in.

Filthy walls would be ordinary wear and tear if it occurred over a ten-year period, but not in one year. 

After all, I enjoy getting checks monthly - but it would nice to cash in a fat check once in while too.Question 2 - Networking is key to finding good deals - MLS can have some good deals periodically - but the best deals are going to come from a distressed situation that you find out about through word of mouth - and that means staying in front of your network and growing it so that you are exposed to new situations and opportunities.

Period. 

During that period of time you can cancel for any reason or no reason at all.  

Also - while the numbers pencil out- I would be very careful during the inspection period to look out for any potential headaches - at $115/ mo cash flow - that gives you $1,380 a year - not bad to put in your pocket - but one A/C unit replacement or a new appliances could wipe out all of your gains.   

So you can pull out the $150k -( 25% equity ) $37.5k = $112.5k allowing you to pull out your initial investment in the property, and in a couple month period, essentially you got into a house with no money down.

If a seller has an option between a financed buyer with a 10 day inspection period, or a cash buyer no inspection period, is the person with the contingency going to win, or the one with no contingencies?

I know that it could take up to a year to get all the necessary documentation to start building, and I would definitely like to shorten that period up.