There are no agents or brokers involved.Because of certain circumstances, we have both negotiated and agreed over the phone to the Purchase Contract being cancelled.The escrow company has been instructed by both of us to disburse part of the funds to me, and part of the funds to the buyer, via an escrow Cancellation Instructions form.What form or letter do the buyer and I need between us to formally cancel the Purchase Contract?

I've seen this topic before and it seems to be a split depending on the circumstances but all in all, I see people go directly to the listing agent. 

In those circumstances if you don't plan to reenlist a lender is going to want to see evidence of income following your service, which can sometimes be difficult to provide if you don't have a formal job offer or if you plan on becoming self-employed. 

I have sent the tenant a letter reaffirming that they are to make no self-repairs under any circumstances, but looking for some ideas for now.  

There are special circumstances that allow you to move early (job transfer of over 200 miles, having a kid and already being at max occupancy).  

From the MLS, turnkeys, etc, the war zones are obvious, but what are good general working class neighborhoods which will best weather possible future storms and downturns.I am want to buy and hold, but would want the option to sell in 3-5 years depending on the market, personal circumstances, etc.Any advice and contacts are welcomeJulie

If you can explain extenuating circumstances, the bank should accept a deed in lieu and you can walk away with only your money in, as your loss and call it ....education, and start over. 

CONSTRUCTIONAssistance with the acquisition of an asset with your moneyRenovation with your money (Risk of construction cost over-runs / "unforeseen")Time to market impact (2-4 months)Hand-Off to "Partner" management company (secondary or tertiary management firm)No AccountabilityNo ReasonabilityLong time for same earnings if not less in realityDo not get economies of scaleConstruction material and methodology will not be uniformLower level of expertiseProperty Management company not an investor property management company (there is a difference)**Any combination of the aforementioned (NOT REAL TURNKEY) is not real turnkey, it is a loose way of explaining a process that does not offer any added value, security and/or accountability, it is a service, however, not a comprehensive hassle free service)Property Manager  = Concentrates and cares about fees, this is #1TK Property Manager = Concentrates and cares about investor ROI, this is #1Finally, I want to end with the consideration, that you still need to do what you feel comfortable with and define your risk profile for yourself.

Usually takes 1-3 months to evict, depending on a few different circumstances. 

My circumstances don't allow for up front payment but I would be willing to pay with profits from the the first few deals.