My opinion is that, particularly in Dallas, most of the losses were actually the result of a lack of available funding or the changes in qualification for funding. 

Yet investors could still face losses if, for example, the economy weakens and renters can't keep up with their payments.Those who buy a rental property and then need their money back down the road could also get burned.

The difference and losing a month of a rent is about 4-5 months in loss.

Many RE Agents do not know to use the sellers profit & loss, correct appraiser, etc to sell this property as a business to provide their seller with optimal ROI.

The tenant has not had financial loss in this situation.

Your the best judge.. within 5 days she'll either be gone or within 6 days you'll file on the upcoming Monday.. loss of processing for basically a week is what your asking..and court costs.. if you can avoid that and she acutally leaves.. your ahead a lot of timePersonally my gamble would be to meet her Sunday set the appointment up and get the keys. 

They broke the contract, they suffer the losses associated with that. 

And lastly, would it be worth working a deal with the neighbor and sell it to maybe make a profit or not loss any money and move on to the next one. 

Costs that I think a lot of flippers may forget to include are: interest on money in play over time, property taxes, insurance, lawn or snow maintenance, utilties, risk for vandilism, loss of doing other deals if funds are limited and tided up....and your time!!!

As far as an actual project learning the steps of due diligence of the potential project,, feasibility, present and future value all would be included in business plan for specific projects.