However, after 2-3 months of researching/self-educating, an opportunity presented itself in that a friend from the gym bought a new house, but it was contingent on them selling their current.

I get the sense that he is relatively educated about real estate.

So, if the city offered $300k but you hire an attorney who negotiates $400k, the attorney is paid 30% (or whatever is agreed upon) of $100k.Also be aware, if there are current plans to widen the street and the property will be effected, the seller is legally required to give you all communication and information they've received from the county/city so you're thoroughly educated on what projects (if any) are going to be underway.

Any books I can purchase, Bigger Pockets educational tools?

By far the two biggest contributors to launching my RE business have been through non-stop education and networking. 

It's educational. 

Because, you could talk to just about any lender you want, but if you don't have a way to qualify (be it income, asset, gross income, etc.) you are still going to be sol.Yup, so either educate yourself on how buying power is determined and/or start contacting some lenders and see what they can and cannot do for you, and why. 

However, this is something you will have to educate the homeowners on. 

You represented that you could fulfill your obligations under that contract when you knew that you could not. 

Been reading articles about Real Estate now and then, but I decided to set aside some hours to self educate myself on Real Estate.