If they don't pan out, I contact the next qualified applicant, and at that point, get the money order or cash for the background check.

So, to invest there would be solely for the appreciation play in my opinion and I would wait to see how this Turner thing starts panning out first, actually more so the potential developments there.

Also - since you are PRO member, I'd run the numbers through the BiggerPockets House Flipping Calculator and see how it pans out (after figuring out a good ARV, of course.)

Getting a 5% down is only if you pan on living in it.

As far as the marketing goes, I'm chalking this first deal up to beginners luck as the rest of the calls I have gotten, have not panned out.

It is not knob and tube, but it is tinned copper, a real rubber insulator and then cloth covered.    

This way if they want signficantly more for the home, you don't spend the time driving out there, reviewing the property, working up a repair estimate, and then not getting a deal.BTW, I add the leads that don't pan out on the phone to my follow-up list as they may become motivated over the next 6 months.

It will be OK ... you can ask them to deliver a couple of tin-foil hats along with the meter.Most of these meters communicate over hydro lines themselves, there are a few which have wireless communications capabilities (usually with less electromagnetic output than your home WiFi access point). 

I am very curious as to know how they react to heat, like if somebody put a hot tea pot or frying pan down on the counter. 

None have panned out.