Just get short term rental insurance like everyone else and go for it. 

Some will charge a percentage of rent and nothing else.

Like the Dingo he came here not speaking any english and with limited funds and is now a real estate mogul.. were else in the world can you do that..

Location, location, location is the old adage we have all heard; however, I am curious what else you are looking for?  

I'm working with a turnkey provider right now that offers that structure (there are quite a few who offer it but it's riskier so I'm careful who to trust) and it's working out well...the investor stays hands-off [other than due diligence] while someone else does all the work, but then they see immediate forced appreciation as well that they can take advantage of.So, there are definitely options!

Interesting that nobody else replied to your post.

You do not want the neighbor listing on mls or other network because you have no way of knowing what someone else will pay for the place (of course, it could also work in your favor but that too is a gamble).

Ran.You can tell the agent you'd like to cancel the contract and find someone else. 

I think leveraging a platform such as a blog, social media, website or anything else to create a personality or brand for your real estate biz is becoming more and more important.

A 3% earnest money deposit should keep people from backing out but I would make sure you have someone else lined up or the cash to close if needed.It really depends on the area of town and level of rehab.