"Brokerage laws" are not always bound by statute.

In that book he talks about how he learned the rules of a certain style of martial arts and that by being able to get his opponent to step out of bounds, he would get points and eventually win.

The agent is still bound to disclose any unseen problems they have knowledge of.

You can make money or loose money in any market.

If that cancellation language is there, you're bound by it.What are the $4,000 in additional fees for? 

Starting in an area that won’t appreciate may end up costing you more to repair the property in between tenants causing you to end up loosing money in the end.

If you don't want to learn the laws for lending, you will be better off giving your money to a professional and taking a modest return because you will end up loosing it, paying an attorney to prevent or clean up a mess, or violating the law.Take a fractional interest in a loan with a seasoned private lender. 

So make your back up offer....obviously you’d not have this same clause in it, so if your offer looks serious and capable of closing, the seller has a motivation to cut the other buyer loose. 

It's bound to happen at some point. 

You do have to be willing to either pay that amount back or loose it if the investment doesn’t work out.A healthy cash flowing deal may be safer.