What kind of Contingency is this? Not an inspection??

[Steve Candor]

Buying a multifamily and I had a contractor with me viewing the actual property. There's another offer that waived inspection and will close in 2 weeks. 

I can waive the inspection too but I want to verify all the leases and his bank statement showing that he's getting paid what he says he's getting paid. If the rents are NOT what he's getting - i.e. rents are not what he says or tenants aren't paying I want to be able to change my offer price or get out of the deal. 

Normal to offer this contingency?