However at least in our market you have to have POF or Strong letter from your bank to get the seller to allow you to go into contract subject to entitlements.. then you need usually 50 to 100k in EM to tie it up.. then you need another 50 to 100k or more for entitlements.. then you go into contract with one of the national or regional builders and then you pray they will close on time. 

Will any of the parties to the transaction inquire if I have the licenses to conduct this business? 

That to me is business smarts not book smarts. 

I am licensed to do business in All 50 States. 9.

Business groups for face-to-face meetings ?

I'm going to try to get Safeco to waive their new policy of not allowing any change of broker requests to go through after July 1, 2024 based on the fact that I never received their notice of Non-Renewal (dated May 4, 2024 ) in the mail and only got a copy of  it by email from my agent's office on July 17.  

Any opinions out there on if I would have any legal right to get the earnest money returned to me or should I just be happy he is willing to let me out of the contract and consider the $2,000 em cost of doing business?

I agree with others that you're not allowing enough for CapEx....plus $200 mo is not nearly enough return.

The gradual recovery of international travel and tourism could provide additional upside for the market, particularly for upper-tier properties.However, potential headwinds include:"- Flat population growth, which may limit organic demand increases- Economic uncertainties that could impact both business and leisure travelOverall, the Los Angeles hospitality market appears well-positioned for sustained performance improvement over the next several years, with upper-tier properties likely to see the strongest gains in ADR and RevPAR.Full Market Report: https://d2saw6je89goi1.cloudfront.net/uploads/digital_asset/...Contact me for a complimentary market valuation analysis report for your hospitality property today.

My plan is to allow my portfolio to compound, and then after college pill up some money and start investing in real-estate.