Why would an agent not present your offer, risking losing their license, listings, reputation?

then you lose 15k right off the bat.also some investors won't want to work with a property that needs 25k worth of repairs, but you may find one.be patient looking for deals, don't jump into one that seems good without doing your due diligence. i'd try to get a contractor or appraiser in there to look at it, or use a paid service to get some real comps and crunch the numbers

I like the first house. and I do not want to lose the opportunity to bid on second house but I am concerned about if both banks accept my offer and I only have money to purchase one.

It's not a magic formula that works in every situation...in fact, sometimes your expenses are MORE than 50%.Take a couple minutes to list out your expected expenses (and their amounts):- Vacancy (talk to other investors in the immediate area and see what kind of vacancy rates they are seeing)- Rent Loss (how much do you plan to lose due to concessions and non-paying tenants?)

I am aware I can provide an escape clause in the contract so I can back out without losing big, but I want to go into this with as much knowledge as possible.

I like a bunch of losing teams,lol.

A pre-transaction review would be meaningful and most smart investors will ensure they have proper guidance in advance of embarking on a new venture, but any custodial requirement for such would be entirely impractical.Further, most custodians requesting this are fully aware that some LLC providers are actually providing the review service and others are just allowing you to sign off saying they are your reviewer when they have no real intention of performing the service - at least not in a meaningful way. 

If the first holder is owed $50k and the property is worth $50k or less, you are out in the cold and lose your money

@Marty Bauer One thing you might want to consider would be your lose off the maintenance write off from a tax perspective.

This means if you can not get a mortgage you accept losing the deposit.