Depending on the property and circumstances, I usually give the seller a full 24-48 hours to respond. 

Your tax circumstances, goals, etc all should be considered when developing your plan-many times there is not just one answer.

Perhaps predatory was the wrong word to use in this circumstance, although I believe it is suitable. 

I believe in the creation of long term wealth so  under most circumstances I would buy it, fix it and rent it out. 

@Cory Peters Usually under these circumstances we get presented with a problem-lost job-here you are presented with a problem and a solution.

Then let circumstances change your intent.

It really just depends on your circumstance. 

@Jaz Patel, as @Larry F. stated, the answer really depends on you (the individual investor) and your circumstances.

As far as risk of bank calling it due; yes I guess it's there but it just doesn't happen in all practical circumstances as long as the mortgage is being paid then there is no reason for a bank to care about it. 

Upon further researching the amendment, the circumstances surrounding it seem circumspect.