2nd FHA Appraisal? What Should I do?

[Thurman Schweitzer]

Ok so my 2nd flip has had issues in the sales process. I wrapped up the construction late and ended up able to got with FHA buyers....

So the FHA guy appraised it 7k lower than the agreed on price. Now 2 days before closing they either want to 2nd appraisal or documentation on what I purchased it for and list of all repairs completed (budget breakdown). Am I under any obligation to share my purchase price or construction costs?

I am in TX property is in TX and they put a 3rd party finance contingency, saying they can walk if doesn't appraise or close by expected close date. 

So the way I see it is don't disclose and then let them decide to buy it per contract or bail.  I then re list and hope for better price or B turn it into rental property.

Feedback????