Thanks @John Hyatt. Guess I better keep my eyes open everyday for new postings vs once a week
As an agent, I have an auto searches for Pending properties and "back on market" properties. If you have access to the MLS i suggest you do the same. When the market is very hot, as it is right now in Atlanta, I see myself making a lot more back up offers.
If the deal looks good enough I suggest just putting a written back up offer and let the seller know to call you if anything goes wrong.