Marketing, including direct mail, is not an event; its a basic component of how you make the phone ring and put food on the table. 

So, when you look at playing with your calculator trying to figure out where your break even point is with low valued properties you need to adjust your expectations to reflect reality, will these types of factors or some event effect or influence the viability of your plan? 

In the event the new buyer/borrower defaults the typical remedies would apply.

Plus a nice liquidity event !...  

Networking events will have people looking to partner on flips.

Failure is not an event.

Don't over complicate.Take purchase price, say $150,000$1,000 Down payment$9,000 Purchase Money Note (secured by Trust Deed or Mortgage) payable X for Y years$140,000 - Subject to existing 1st mortgage (approx balance, terms per lender's Note)You could offer another few lines concerning progressive release of funds on certain events like possession, etc.Also, you could offset seller's/attorney's concern about your payment of sub-2 loan by you giving performance trust deed that you will pay 1st or AITD Wrap of 1st and purchase money note to given them more control.

Go to neighborhood events.  

@Carlos Enriquez  cost of litigating this vs fixing probably is not worth it. and since you did fsbo ... what sales agreement did you use.. if its standard WA form there will be mandatory mediation in these events.. if you used a Stevens ness form maybe not. 

I Would love to hear other points of view and experiences if anyone is in the area or knows of any investor social type events.