You should also recognize their business tactics to obtain a contract, often with deception saying such things as "we buy houses" or "I'll buy your house", they never buy as they don't close.So, where you are as a buyer is in a position of dealing with someone who 1. isn't knowledgeable about real estate, 2. they lack business knowledge, 3. if they are aware of license laws and what a straw man deal is, they ignore the law, 4. many do  pick and choose what laws they  will follow, like using bandit signs to advertise. 5. from that, you  never know what they may have said to a seller which can come back on you, like a seller thinking you are their "partner". 6.

At BP, you can access great information such as free online videos and courses while networking with other investors.

The best learning tool I found (and Ive read, studied courses and watched a ton of videos) was found on Amazing.com (you get a free trial) look up Jason Hartman Real Estate.

It also sounds as though you did not do an LLC and choose to be treated as a Sub S corp, so the income will also come to you as Earned Income, and will also be subject to Self Employment Tax (although you might have already paid the maximum).I applaud your decision to set up some kind of system before you do anything like this again.  

I ended up losing one of the leads due to her choosing to work with a realtor but was able to continue working with the other seller.

At BP, you can watch online videos and learn by taking the online courses absolutely free!

Depending on what market you choose and the conditions of that market you may want to sell first prior to finding the next property.

BP has free online courses and videos for you to watch and learn from.

@Eric Pinter Why did you choose Van Buren over Little Rock's market?  

At BP you can network with other investors, access free online videos and courses, and also listen to BP's very own podcast in itunes.