While the murder was at the rental property, all of you who have tenants stopping by should think twice about the risk you are unnecessarily taking. 

I know that there is risk because of the lack of paper trail, but could this also raise a red flag for the seller not wanting the banks to get involved?

After some back and forth with the seller's agent, the seller how signed and returned the LOI to me.We're now working on submitting the PSA & scheduling an inspection, but my team will be out of the country for 10 days.My question is: I am running any risk of seeing the seller move on and find another buyer because we're "slow"?

Real estate investment works when you have a portfolio of properties that you can spread the risk across.

Best is to research an area before investing in it otherwise you are putting yourself at high risk and you don't want to make mistakes at the start of your investing journey that will leave you with a bad taste of real estate investing. 

It's happened to me a couple times - now I know to look out for it some areas or just wholetail so I don't get involved in any rehab at all and mitigate the risk.

While it's okay to be honest and upfront with people about risks and challenges, there is no need to damper their spirits and provide that doubt in their mind that they cannot do it.My market (in minnesota) has been pretty competitive lately and coming across great deals is a bit challenging.

I think that's it's great that you want to invest while I college but Im not sure if your parents would want you to risk school for investing, when you can start investing after college- that's just my thought.

So my question is since this is my first time doing this type of transaction; what are the risk involved?

If you are much lower than that, you run the risk of going upside down very easily if any of your expenses increase.