I can still cancel the deal and will lose $250, which is better than the what ifs that may occur if everything goes through.

Also it occurred to me . . . the primary "hack" aspect of a house-hack is the low-downpayment financing . . . notably FHA 3.5% down financing.If you can seller finance it with low money down using seller finance then I'd skip the part about living in the duplex, owner finance that one and get it cashflowing, then house-hack another one. 

Make any dividend or distribution for or on account of equity interests in Borrower if, either before or after giving effect to such dividend or distribution, a default or an Event of Default would occur or has occurred and is continuing.10.10.

We use to have an in house protection plan, however to mitigate risk from the tenant aspect in the event something were to occur such as i.e. fire, we wouldn't be left holding the bag.As for the facility itself, I would have to research that as it is above my pay grade. 

Houses are listed, immediately a multiple offer situation occurs, and are under contract over ask. 

By immediately, I mean when you're on the way to the closing.You can check for damages that occurred after you saw the property and to be sure it's vacant. 

When that occurs, the supply and demand ratio will reverse and the market will head down.

You may want to read our series here on BP:You might want to read our series about “How to Screen Applicants like a Pro”:https://www.biggerpockets.com/member-blogs/3094/93296-how-to-screen-applicants-like-a-pro-part-1-verifying-credit-reportsGiven your lack of experience though, you may want to hire a PMC and read our series about “How to Screen a PMC Better than a Tenant”, since selecting the wrong PMC is usually more harmful than selecting a bad tenant: https://www.biggerpockets.com/member-blogs/3094/91877-how-to-screen-a-pmc-better-than-a-tenant-part-1-services-and-processes

So you would be on the hook for any interest you occur by holding the loan, the cost to initially close with the bank and the amount borrowed.

Going further out of LA and OC, the numbers looked way better but it occurred to me that I would just have too many properties (one day) and that just multiplies the time and stress so I'm aiming to stay closer to home even though it will take longer and cost more.