A flip is when you purchase a property, and then turn around and resell it within a short period of time.

They are willing to waive the min balance for a year and help extend it 6 months after that so you will have time to meet the min balance requirement so you can void out the fee.

These are annual amounts collected over a period of years to cover the replacement of major capital items such as heating and air-conditioning plants and units, electrical systems, roof's, etc.

It didn't get done and there were some excuses and then the grace period for paying passed and a filed the notice to quit.

If you utilize a real estate agent they will suggest using TREC contract form 20-12 "One to Four Family Residential Contract (Resale)" which contains an option period.

But the seller is very concerned about liability issues during my due diligence period (i.e., if someone gets injured on the uninsured property).

Let's geek out a little and look at new development from the point of view of an economist.First of all, real estate is cyclical and typically, there is a period of expansion in inventory (period of new construction) after the recovery of a crash before you enter the "oversupply" phase and back into another recession. 

Just joined up after being a long-time reader because I finally need to ask: when doing a 1031 exchange, is it realistic to identify and secure 4-5 properties in the 45-day identification period (and abiding by all the other 1031 rules)?

I don't know about MD, but in Georgia you have a unilateral 7 day extension on RE contracts (either party can extend for any reason). 

It is not the ability to pay but for some reason he just doesn't make it a priority and always a day before the grace period or two days after.