I'll probably order Jeff Booth's book, though I'm betting the big systemic issues he's addressing are more likely to play out over a very long period-- throughout my grandchildren's lives. 

From all the chatter I hear from various real estate investment moguls and my mentors regardless of market is the REI play for the next little while will be in the suburbs.

That's the sandbox I want to play in (or at least explore).

The offer does have a financing clause, but I’m not clear if it would be in play here.

A “retainer” has never ever come into play.

I am currently a pro athlete playing hockey overseas and am trying to put a lot of what I make over here into real estate investing.

Just play around with the numbers to make sure that the deal works for everyone.

Your bigger play is in growing your side business and growing your rental portfolio, so I'd focus on those two things.As far as market selection, that's a key piece to your success when it comes to buying rentals.

And, once a property gets into Lis Pendens, securing title insurance is impossible since the title is "in play." 

With that much capital at hand I'd play your cards, utilize local knowledge, and find that DEAL.