Blaming Loopnet for an allegedly bad property manager is like blaming Zillow for an allegedly bad realtor...I'm sure if Loopnet was stupid enough to give ransom money to BBB, BBB would take down the bad reviews and un-filter any good reviews (which is the entire business model of BBB).

Its a great way to start investing and save more money to get your next house.

Basically you would be taking a risk, but if you maintain your financing contingency, I actually feel the seller is taking the bigger risk.  

Do this in tandem with being disciplined in your spending habits so you can save up more money.

May be in Texas it's a good way to make money.

You could then use that money to go buy other properties. 

I ended up increasing my offer on the advice of my agent and got the home.I was told there was no way to verify if there were actually any other offers on the home.

If I pay with cash it will take up most of my money that I have set aside to perform renovations on the property.

You’d be shocked by how little actual screening many PMC’s do!

If you are raising money you will need to register the exemption with the SEC, and it will depend on whether you are using accredited or non accredited investors.