In the event you have suffered damages, such as paying for inspections and other expenses based on thinking you are in a contract and purchasing the property, you may be able to seek reimbursement for those expenses from the bank.

It may not be wise to keep the money in that property when if you took the 10k and put it with the initial amount, you could get a property with much greater cashflow.Hope to see you at some of the networking events for investors around Chicagoland.

Thank you for sharing this post with us, even though I'm sure that was a very unfortunate event for you.Liz

In the event you have a breach on your lease and the seller(landlord) evict you your funds would be loss, unless you put some condition of improvement reimbursements in the lease agreement.To me best thing to do is have seller carry back a note for 3 to 5 years to give your self a change to refinance the property later or resell it with a tenant in it.

Set a budget and invest X dollars in books, audio files, attend real estate investment club events and maybe some home study courses.

It is written for financial planners and stock brokers to sell to the wealthy.

Thank you Thabata, it was great having you at the event, i am glad that you have learned important key points over the weekend!

Brett, welcome to Bigger Pockets, and thank you for the kind words about our Black Diamond events.

He should have an option to proforma to a 2013 tax planner or have his 2013 software already pending updates of course.

Any event prior to (left of) B(0) is essentially why you get title insurance.