One of the major risk is that title does remain in the seller’s name.....if he has a mtg he doesn’t pay he’ll get foreclosed on and your are out, judgments/liens can attach to property for more than your price, so he can’t deliver clear title.  

This statement specifically from the document requires an actual invoice, which means work has to be done or you doctor up a fake receipt:"Within 14 calendar days after completing the repairs or receiving the invoice or receipt, the landlord must mail or deliver to you a correct itemized statement, the invoices and receipts described above, and any refund to which you are entitled."

Don't pay them ahead of work they've done, and don't pay them in advance for materials until it's been delivered to your site.

You could start with something around the $2 - $5 mil range, get your feet wet, deliver results, build your track record so that when you go out the second time for a larger offering you can promise lower returns and you would still have investors willing to take you up on it.

Normally I use that access to measure and order supplies but don't have anything done or delivered until after closing.  

I see a bunch of phony crowdfunding platforms popping up and taking a lot of money and never actually delivering on what is promised.

For instance, if you promise a 10% cash on cash return and deliver a 12.5% return, you will look like a hero.

After removing loan contingencies, my lender failed to deliver, leaving me and my deposit in a state of uncertainty.

It can mean an offer to purchase a property that delivers cash to the seller at closing, i.e. no seller carry back, regardless of how that cash is obtained.  

Here is Fannie on the subject: Limits on the Number of Financed PropertiesIf the mortgage loan being delivered to Fannie Mae is secured by the borrower’s principal residence, there are no limitations on the number of other properties that the borrower will have financed.