Don't think that one particular out of state market will shoot you to success or abject failure.

If China's Yuan is further devalued then then cat will be out of the bag and two things are sure to happen (i) China's banks will be on the precipice of failure.

Many OOS investors set themselves up for failure because they don't truly take the time to understand:1) The Class of the NEIGHBORHOOD they are buying in - which is relative to the overall area.2) The Class of the PROPERTY they are buying - which is relative to the overall area.3) The Class of the TENANT POOL the Neighborhood & Property will attract - which is relative to the overall area.4) The Class of the CONTRACTORS that will work on their Property, given the Neighborhood location - which is relative to the overall area.5) The Class of the PROPERTY MANAGEMENT COMPANIES (PMC) that will manage their Property, given the Neighborhood location and the Tenants it will attract - which is relative to the overall area.6) That OOS property Class rankings are usually vastly different than the local market they live in.7) That a Class X NEIGHBORHOOD will have mostly Class X PROPERTIES, which will only attract Class X TENANTS, CONTRACTORS AND PMCs and deliver Class X RESULTS.8) Class A is relatively easy to manage, can even be DIY remote managed from another state.9) Class B usually also okay, but needs more attention from owner and/or PMC10) Class C can be relatively successful with a great PMC (do NOT hire the cheapest!)

If not - cancel the sale due to failure of passing inspection.Unfortunately for you there is no "cooling off" period for real estate except for time shares.

.==   I've used this method before and the results were failure. 

Continue your education, adjust to market changes, and don't let early failures get you down.

Seller's remedy due to Buyer's "failure to perform" is also a part of WA standard PSA - the Seller either gets to choose what they do or the Seller's claim is limited to just the earnest money.

You can be sued for Failure to Pay Rent before the 10th of the month.

Meanwhile, food service businesses are notorious for having a high failure rate.

@Samantha Klein - in Baltimore, it's called a "Failure to Pay" notice.