I get it but even if end up pulling out of this and losing the money, the amount of you learned is invaluable.  

I'm in the northwest suburbs of Chicago and this was my first rehab / flip.I'm not happy that I'm losing money on this one, but I learned SO much from it. 

It's not that I couldn't write him a check, but I wouldn't want to lose that much. 

Something always comes up in the transaction and you will lose moneyI would walk away from my $1000 EArnest money before I would put up $127000 cash to make $1000Let the guy getting financing buy it and then buy you dinner, then you would at least guy a meal out of the deal

Thank you all for the responses and helpful insight.I normally lose a month or so by waiting but I may to give it a try and see what happens.  

If he truly is a good property manager, then I would take on the headache of setting up the accounts dong the accounting to avoid losing the PM.

As someone once stated somewhere on BP, "I would rather lose sleep over a house I didn't buy than a house that I did buy."

Get out of the contract, even if it means losing earnest money.

Often folks wait too long and lose the home (and their credit as well) when the home goes to auction/foreclosure.  

If an agent that you have an agency agreement with pulls a move like that then they are violating their license regulations, and can be called up before their Real Estate commission and potentially lose their license.