Without an exit clause from a legal binding contract, you stand to lose the deposit and potentially get sued for failure to perform.Contingencies should be used reasonably and responsibly.

Pretty much IMHO from the day you're born you're setup for failure!

It's an exhausting, and years-long effort (or at least it was in my case), and you will STILL be disappointed at the end of the day by the failure to take action on the part of some of those you volunteer on behalf of.

Failure is not an event.

NC state statute is reasonably clear on what happens if the event of "willful failure of a landlord to comply with the deposit... requirements".

I am not saying that these rules of thumb cant be useful, but I am saying to recognize that they will not guarantee success or failure.

Failure is part of the process of success.

This would be a failure on the Seller's part, so you would get your EM back.

Love the guys and I did find an investor who funded a deal for me, but still feel that they do more buy and hold (which I hope to get to) and multi unit high horse dollar deals... and I leave feeling like a failure...

@david z@David Zheng Great to hear about your successes and how any failures motivated you.