I found two properties in my area that will cash flow well at just under the MLS price, but I do not have the down payment for bothIs there a way I can offer on both and see what gets accepted without forfeiting my earnest money when I choose the other one?

Prior owners that contributed and sold have forfeited their rights to their contributions. 

Even if the intent is to wholesale, either perform as spelled out in the contract or forfeit the EMD.

If your financing contingency had expired, we don't know the exact language of it, and you were indeed clearly in default, the title co. would really have no liability to you, since the EM was legally forfeited.  

If they don't they forfeit the deposit.

If they don't they forfeit the deposit.

There is no return.Depending on your investment selection, you are forfeiting 25k worth of money that have dividends tied to it.I hope you have a solid deal.

Now if you don't have wording like that in your lease, or your lease is a verbal lease (which amazingly is still in practice) then you'll need to look at NCGS Section 42-3, entitled Term forfeited for nonpayment of rent.

Forfeit the security deposit. 

The only exception is that IL does have OTC/forfeiture sales on property that was offered at a sale and forfeited (not bid on).