This is a generation that disapproves of conspicuous consumption, "prairie palaces" and the such.  

So I repeated this number back to him, trying to do the "so you'd accept 75k...hmmm..." sort of in the way that Mike does it in the podcast, disapprovingly.

By rules when they carry out an inspection they must let me first because they cannot just come into my own property for an inspection right without approval.I've further look thru the documentation under the Submittal section and found the following clause when one submit an architectural plan:"If the application is deemed complete (which it was at the time), plans bearing neighbors' approval signatures will either be approved or disapproved within forty-five days of receipt by the Architectural Committee."

Terri Lewis this is usually the time of the deal when my attorney writes a nasty-gram along with a copy of the termination of contract and termination subject to disapproval per contract 1.b or whatever.

But it's still not an automatic disapproval.

Irrespective, I'm sure your agent wrote the right contingencies into the offer contract...my standard are always:Finance (if you are using a bank loan)...if using cash, I would include a option to close with a bank loan as long as you close within contract termsInitial walk-thru of all units within 36-hours of acceptance- this will save you the inspection if there are major issuesCopies of all leases and rent rolls, expense reports, receipts and list of improvements (for tenant occupied properties) within 36-hours (you may need to sign a non-disclosure)Attorney approval- buys you 7-days to exit if your lawyer disapproves of the saleInspection- pretty standard- you will want to consider property, structural, WDI, sewer line, radon, and mold...all at an added cost- think of it as a cost benefit spendEstopple...well ,it depends. we usually do one before closing, but it's not required...I would make this standard on a larger MF property, though.1040 Schedule E- again, you will likely need a non-disclosure...Those are your basic exit clauses and you can embed some others to cover your ***, but most will be removed by a savvy listing agent.Due diligence is the hustle...you need to verify condition and documentation, and get your final numbers run...make sure the deal meets your needs.

I think the only risk is if you are trying to really push to the upper edges of market rent, you may get push back or disapproval from section 8.

They kept wasting time and did not want to sign the addendum (which basically stated no further extensions will be granted, if failure to close by new date for any reason besides sellers fault or HOA disapproval we would cancel and claim deposit, also $2000 increase in price for for agreeing to revive the contract, which was the easiest term for them to agree to).

would i get dis approved for having half done insulation on the house if i leave it as is??

YOU are not approved or disapproved as an owner, other than to validate that you are not related to any of the tenants.