With hud unless you're an owner occupant you will probably lose your earnest money if you back out due to inspection issues.

You should compare this cost to what you will lose if you renig on the deal at the closing...I would say this is not worth panicking about...If the analysis you did pre-bid was good (cash flow positive !!!)

( here is how good transactions go down)  Most win and some lose its a investment and most can be controlled if you follow the correct processes ...  

Dominated by 1-2 big players that are not the nicest of people...

I was thinking of selling the second one and discovered that getting out is not as easy without losing money as purchasing since I purchased it at close to market. 

With no capital at risk, there's nothing to lose.

I'm a poker player myself and love the game.It sounds like you've come to the same realization that many other investors, particularly in California, have come too.  

Nobody likes losing money.

Hi Devin,Of course there is a catch... no matter who says what, the system will cost money and so will the installation and someone has to pay of it... either up front, during a period of time or at the end.If you are not paying for it up front then when you turn around to sell the house the buyer will have to pay for it and this has caused a lot of buyers to lose interest.

If you can cover 1.20 or better, then you're in good shape. don't limit yourself to just regional players.