New London County isn't too hot for multi families.

It happens all the time in hot markets where parties reach an agreement and may just be wait an initial by one party and another offer comes in and the contract is rescinded. 

@Paul Smith Have you checked out the Real Estate Investors Network of Nashville.  

There is a LOT of focus on Oakland right now and for good reason (Super hot market!)

If you are in a hot market, I say try FSBO for a week or two, if it doesn't sell then you could always list it. 

this will be my first investment property, the prices are ranging from the low 100's to the high 300 this is a hot area  I am looking for long term cash flow as well as appreciation over time. or should I start with smaller?

If you are down the the area and have any questions at all about the market, or hot areas to invest in I would love to chat. 

Apparently a hot water pipe burst and I had 5' of HOT water in the basement. 

I understand the Huntsville market is hot right now, so buying a SFR/MFR off the MLS probably will not meet the 1% rule, but would like some sort of cashflow ($200 after expenses if possible). 

AC broke down, despite being 2 years, Hot water heater was reported not working, after 3 bouts of plumbers going out assuring them that the hot water heater was working, it mysteriously started leaking and need to replace the pressure release valve (Point 1).