After visiting the home & gently pointing out a few structural issues, I offered her $5,000.

The second list never gets hit with marketing and most wont do this exercise do to the cost of the list. 

My experience with most types of transactions for an asset, ownership does not transfer until the contract is exercised and both parties fulfill their obligations.  

All rights, powers, options or remedies afforded to Buyer either hereunder or by law shall be cumulative and not alternative and the exercise of one right, power, option or remedy shall not bar other rights, powers, options or remedies allowed herein or by law.

This is the first time I have ever done something like this, so please be gentle....

You will definitely learn a lot from this exercise and I recommend all new investors do it.

We were unable to continue our coaching calls beyond these 2-3 because (see #3) Weekly check-ins, especially for a new investor, would be helpful regardless of whether or not the exercise was completed. 3) There was an initial exercise required of members that consisted of doing a detailed analysis of up to ten zip codes.

Learned that lesson though, we'll exercise way more control this time, and limit customization.

For this exercise lets choose Bakersfield.

All rights, powers, options or remedies afforded to Buyer either hereunder or by law shall be cumulative and not alternative and the exercise of one right, power, option or remedy shall not bar other rights, powers, options or remedies allowed herein or by law.