Long story short I negotiated a no money down land contract on it at $35k, which is my standard M.O., with plans to rehab and rent it.

Control as many properties as possible and negotiating the offer using the second stage" negotiating technique, first open negotiations with an offer, than close with final face to face negotiations.

@Curt DavisThe earnest money would have been negotiated in the purchase contract. 

It is hard for me to believe that there are no equity deals in your area,  your agent may not have the skill to find those deals.........ask anyone on BP, they will tell you, that you can find a deal in almost any area.....and if you can't go where the deals are.This real estate investing thing is a great business, it is not that easy to get the knowledge or the wisdom needed to negotiate for a cash flow or equity property, but when you learn the many alternative and creative ways that work.....you will success BIG TIME.Good luck and happy investing

Here are the numbers:Gross Rent: $84,768Expenses: $32,226Repairs and Maintenance: $3000Utilities: $11,359, Taxes: $6,570Insurance: $4,345Vacancy: $4,410Reserves: $2,543Asking Price: They plan on listing it at $599,900 in the spring, however, I have negotiated them down to $500,000.

Private money sources abound and are often easily negotiable to a win - win position for both borrower and lender. 

Ask them if they would be interested if you would be willing to negotiate your commission. 1.5% of a $300,000 sale is better than 0% and this is also a good way to build up a clientele base that leads to referrals. 

Can you negotiate a credit that can be applied to your down payment?

If you don't understand something, bigger companies have enough man power to answer the question and when you get the info you need you can come back to less expensive contractors and negotiate with them, if they are within the range.

See an attorney, ask for costs and you'll let them off in the attorney's letter, negotiation, add the attorney's fee, give them about ten days to cough it up.