@Jay Hinrichs,Brighton Bank will lend to out-of-state investors, but they say everything is contingent on credit quality and debt service capacity.

I'm in the middle of an inspection contingency on a home that would 'just' break even.

Do you have any contingencies like pending inspection, etc?

The renovation costs may include a contingency reserve and renovation-related costs.Contingency Reserves: Contingency reserves 10 % required for any unforeseen cost overruns that may occur during construction.Unused contingency reserves that were financed into the loan will be applied to the principal balance of the loan.

If all your questions are answered positively, I would still have a contingency clause in the purchase agreement that would allow you to "walk away" without any penalty that is financial and before I closed I would hire a professional and experienced Inspector that would make you aware of any possible negative/unexpected things that he discovered.I would not buy a single family house for rental unless it was used as a "house hacking" loan that I felt pretty good about qualifying for it.There is only a couple reasons that could make it OK to purchase. 

Currently, I am getting ready to purchase another multifamily and I wanted to know if others feel that it would be good to place some sort of contingency in my offers that states if any unit's lease is broken while under contract, I have the right to back out or renegotiate.Good idea?  

A scope of work provided with an application is clearly an estimate as you can't see behind the walls/ know to the dollar what things will cost etc. 2) do all HMLs require inspections and appraisals (therefore you must keep these contingencies and make your offer less attractive vs cash buyers)?

Put most of your 'profits' at first into contingency fund, then budget a percentage of monthly flow to keep that account growing. 

My first couple REO's had 1 contingency, a 10-Day window inspection where I could bring in someone more experienced than me to make sure I didn't get over my head. 

Being able to make more money from the property and financial justification is typically not considered a hardship.Could you put the property under contract contingent on going to ZBA and getting the other units approved?