We spent money for the inspection!

Actual numbers spent was wrong as I did not take into account property taxes and other incurred expenses. 

In relation to your original post, I think it is significant that we spent considerable time educating Lonnie Dealers on how to develop working relationships with community owners.Community owners are like everyone else.

Use actual recently SOLD houses similar in size, age, configuration, in the same neighborhood with no major dividing lines in between your house and the comparables - highway, main road, stream, etc.I spent about 5 minutes on Zillow and searched the last 6 months for sales in Cabot which I assume the house in question is.

Meanwhile, I spent the summer looking at homes in the Sierra Foothills and found one that fits our criteria.  

Luckily my long commutes have been saved by the Picket Pockets podcasts and my free time spent here on the site and expanding my knowledge through reading.My goals are to be become a buy and hold investor while maintaining my current career so that in the future my retirement and income streams are not solely based on my job and/or equity investments.I do have a question that I would like feedback from the forum as I begin to formulate my plans in the near future:When we go to make the move we will have enough of down payment (20%) saved up for our primary residence and I project my investment property down payment (including reserves) will be realized in another 12 to 18 months.  

During the negotiations I spent a lot of time speaking with the seller about why he wanted to sell the house and it tuned out that unfortunately his wife actually died inside the property a few years back and after her death he moved to the bay area and "let the house go".  

I spent close to $10K in just traveling and paying fees for property tours (run out of Australia) I have traveled to North Dakota, Montana (saw the crazy rush with the oil boom and people sleeping in their cars) Michigan, Georgia, and Chicago.

That's not to say that all buyers who are leery about signing with you will go out and buy a house without you... however it can and does happen.If you've been in constant contact with them and have spent time (and thus money) on them, its time to sit down and talk about the agreement. 

Even if you spend 10k it will be money well spent!