@Jon HoldmanI second your comments Jon.

Thanks for the comments Bill and Wayne.

I've been reading the Beginners Guide on here but if there are any other helpful tips feel free to comment.

Secondly, concerning step 4, I learned that contracts are construed against the drafter, meaning that whoever drafts the contract is liable and responsible for anything misleading or fishy or sketchy on itI find this to be super smart and logical - just wanted to see if people share the same thoughts or have any comments on this since I don't really see any added risk to doing it this way Lastly, concerning number 5, the way this was presented is that having your buyer sign the contract first almost guarantees the deal going through since the buyer is showing commitment and all that - and also, apparently in the real world there's some unwritten thing where when you call back the agent in step 4 and say that you have a deal and to start the closing process, that realtor is now on notice and has officially agreed to be committed to you is this all true and works?

I appreciate all of your comments and suggestions.

I was just laying out the logic in my previous comment about why police don't deal in civil matters.

In addition, I will be pursuing a CCIM designation at the brokers behest, and paid for by the brokerage.I have so many more questions, but I would look forward to any comments/advice you might be willing to share.Thanks,Caleb

While I agree with Bill's comments below this part about knowing the area and accounting for potential for more hassles in a lower income area I will say that this paragraph is pure opinion and conjecture.Interestingly earlier this year I bought a SFR for that exact price, put less than $2K into it and have it rented out ever since for $575 to a nice older woman that has always paid and hasn't given me any hassles.Is a place I want to live?

What one person would accept, another would throw in the trash and never call you again.It's just something I noticed and wanted to comment on.

Shameless plug for my latest blog post: http://www.biggerpockets.com/renewsblog/2013/12/20/specific-performance/ We discuss this exact issue especially with great feedback in the comments section.