If offer is accepted, you have 48 hours to submit the wet-ink paperwork to the regional office (PA is the one for me), along with the EMD stated in the contract ($1,000) If you choose not to take the property, you are not bound to anything, so you could walk away without penalty3. 

Also, I like when tenants are there when doing a walk thru, I like to see if they talk about their landlord, it says a lot about them. 

Thanks for being such a good sport Minh ;)And that timing when I walked in the door when you were commenting on @Al Williamson 's net vs gross comment.. priceless!!!

On paper it looks like really tight margins, but if it's more or less walk in and paint, there might be an opportunity. 

The best way to learn how to estimate the repair cost IMO is just google the item you need replacing to get a price or go to Lowe's or Home Depot and just walk around and look at the prices.

Walking in the front door of the office to meet the staff, gauge the atmosphere, and view the office itself is the best way to size up how well a company will take care of you.If the staff and office are in disarray, you and your property won't be far behind.     

@Daniel S.Don't forget that there's a 10% early withdrawal fee (age > 59-1/2) in addition to the taxes.

Learn how to say "no" and walk away from some deals and trust your gut.  

Becoming an agent has costs to operate Day 1 which includes: additional car insurance (required to drive people around), licensing fees, dues (state and national), fees to operate a Supra key, to be on MARIS (MLS), prepaid legal fees, etc.

Being in Escrow, I have a fine line to walk before muddying the lines and my role, so investing has been hard to do.