Our partner, Amonte Miller, discovered the Dolphin Road deal and brought it to our attention.

My $10k example was admittedly unrealistic.However, by way of further background, @Dustin Heiner wrote an excellent article on this topic on his website masterpassiveincome.com titled "What to Do When A Buyer Backs Out From An Assignment Of Contract".In it he suggests a scenario where the assignee decides not to proceed, perhaps after discovering a big ticket repair item that would cost significantly more than the portion of the assignment fee held in escrow. 

There is a cost component.

Otherwise, you are just gambling that the bank will not call the loan if/when they discover you have left the property (which probably states it will be owner occupied in your loan, if it's a primary) and are no longer making payments. 

And they bring a lot of business experience that I would value, as there is an active component to the property that will need to be managed.   

Our partner, Ernest Bannister, discovered the N 31st deal in Philadelphia and brought it to our attention.

If anyone is interesting in what I've discovered, DM me.

But then two of the investors I worked with analyzing this deal discovered an engrossing revelation…Included in the documentation letter contained an appraisal report assessing the property at $610,000.00!!

The reason I am writing you is because I had the same question of whether there was a "catch" when I first "discovered" Albany's favorable cap rates and relatively low prices as compared to NYC (I live in Brooklyn and grew up in Jamaica, Queens).

Would appreciate any insight you might have discovered since your post.