I probably chose about a dozen addresses total as I wanted to test the validity of the search. 

Lenders will usually stress test the property because debt is short term.There are tons of layers to underwriting a deal like that.

So, just to test the waters, we listed our home and we had A LOT of interest at $250k.

I am thinking that I will just attend the first one, and get a feel for the process and kind of test the waters before I make a purchase, but don't want to miss any opportunities that may arrise. 

Inventories in my area are very slim and have already lost a few really nice properties as I wasn't ready to pull the trigger or couldn't schedule a showing fast enough. 

You've got GP/LP shares, splits, waterfalls, prefs, and then multiple stress tests to be done.

If your inspector thinks its there, you may want to get it tested with a local environmental agency.

We contacted a few testing agencies but I don't think we can get it tested legally until it's our property.

After that test is met, the balance of remaining cash flow is split between the investors and the sponsor.  

But I can't "test" the waters if the agent never submitted the offer.