If offer is accepted, you have 48 hours to submit the wet-ink paperwork to the regional office (PA is the one for me), along with the EMD stated in the contract ($1,000) If you choose not to take the property, you are not bound to anything, so you could walk away without penalty3. 

He's grossing over $40k/month, and his goal is to net at least $1k/unit. 

My goals are investment properties, not active income.  

I do some myself.What are your investment goals?

I'm a sales analyst from Columbus, Ohio and am currently learning all I can about small multifamily investing toward the goal of creating a house hack for my family by summer 2017.  

Per client, choose one strategy and one only... independently each time, each client... then disclose, and don't get tempted to cheat.

As of now I'm very interested in house hacking with the end goal being to live completely mortgage free by earning enough from tenants.

I would like to start keeping books on my properties vs having their financial information buried in my personal finances.My questions for the community:1) If my goal is to eventually seek financing from others and therefore I will need P&L Statements and other reports on my properties, what software should I use - Quickbooks, Buildium, etc?

I have some information that may help you with your goals.

My goal is to pay a fair price for good service and not be taken advantage of.