His concern, and rightfully so was, if the property took too long to sell, what would happen to his funds, would they be forfeit?

Yes, we would absolutely have to sell to an investorI am concerned though,  because I have read that it would be hard to get a loan on a non producing property, so basically we would need a cash buyer...That definitely narrows down our pool of potential buyers..

This is normal for a regular sale but my concern is that the seller is remaining in title.

I have seen some of properties around that look pretty good for now, but I would have concerns about the long term.

With that said, I'm concerned about the property being in a rural area.

My biggest concern is when you say the property is in a rural area. 

It is not an irrational concern -- both buyers and sellers are concerned about crime rates in or around an area that they plan to invest in.

I've been considering other up-and-coming areas, but have been concerned about my safety doing so, particularly after a tour a couple of weeks ago with Joe Calloway turned up a squatter in one of his properties that we were in, and his saying that he now requires two people to enter any of his vacant properties.It's also great to see other Marin denizens, and other "boomerang" kids!  

There was a 23M project funded and completed by EPA 20 years ago, and the remediation was successful per follow up inspections by the EPA.I have to be honest- that scares me, as this would be my first rental investment.has anyone else had this issue, and should i be concerned? 

In your original post you mentioned many things, and lot of scenarios, so if you are concerned about contingencies, protecting your interests, drawing up 1st or 2cd mortgages, etc.....that is why I suggested an attorney.