As mentioned by another reply, there is a specific law ARS 33-1806.01 speaks to the matter.

I would keep the MFH I purchase and manage OOS. 

Purchase price: $95,000 Cash invested: $30,000 Sale price: $173,000 Before moving in we had to remediate some mold in the basement.

Purchase price: $295,000 Cash invested: $22,000 Before moving into this house we had to add piers under the hours as the previous were not grounded with cement.

Purchase price: $200,000 Cash invested: $27,495 Sale price: $306,340 This project was a very interesting one!

While some have had success doing it, there are reasons subject to has never become a mainstream way to purchase properties.

Since investors and househackers in New York are exposed to more inventory, they are seeing dozens of available properties that fit their criteria vs. just 1-2 properties a year ago.We have more available options, which results in househack investors and homebuyers having more time to negotiate lower purchase prices, better terms, and more favorable contingencies.

If I were the seller I’d return your deposit on two grounds: first, you breached the purchase agreement by not performing, and; second you seem like a flake. 

Purchase price: $200,000 Cash invested: $27,495 Sale price: $306,340 This project was a very interesting one!

Purchase price: $200,000 Cash invested: $27,495 Sale price: $306,340 This project was a very interesting one!