Is this correct?

If you have your correct out clauses in your Buy Side Contract, and you don't find your cash buyer within the given time period, you are able to back the seller out of the contact.

Learn it all, don't go in with a preconceived idea that the material has to be applicable to RE as most won't be initially.It gives a big picture of management concerns in business, you'll probably look at examples from large corporations like GE or Ford and you'll look at small operations.

I hate to ask so many questions, but I just want to be sure the correct way to go about this.

You are correct in that there will be extra closing costs, but the cash-on-cash returns with putting 30% down still looks really good.

And you said that the owner is dying to get out from under the house, correct?

I would suspect you can find those neighborhoods right outside your $300k neighborhoods.You are 100% correct that you can get stuff like that a little farther out.Assuming you are talking about a wholesaling or rehabbing model it works well.

Everyone What Wayne brooks said is correct.

If you have any questions just ask and you should have it answered Correctly.

ARV is one of the most critical aspects of the puzzle to estimate correctly for your investments, with so much on the line why would you chance it?