Time is critical, especially in competitive markets.Clear Offer Terms - Present a firm offer with terms that make the seller feel confident that you can close fast, with minimal contingencies or proof of funds.Due Diligence Preparation - Have your financing lined up and know your repair/rehab costs in advance so you can move quickly without second-guessing.

In other words, the rental license is contingent upon the property as a whole. 

Also, see if you can pad your estimate with some "contingency reserves" as this way you can come do your refi only as rate/term and do not need money in your pocket at all with the rehab!

If the property meets your financial and lifestyle goals, it could be an excellent first house hack, but be cautious with the risks and have a contingency plan.Good luck!

Does their contract have some sort of contingency that allows them to apply for a billboard and back out if its rejected?

Having a contingency plan is essential.8.

The other thing is that there will be no financing contingency of course, so you can't get your emd back if the loan falls through because, well, there's not supposed to be a loan.I would just get a preapproval letter and offer that.

Quote from @Stephen Hood: I have a property that I want to move into and  purchase but am running into a challenge with the offer being contingent on selling our current property.

Carrying Costs and Contingency Funds - How do you estimate carrying costs, including taxes, maintenance, and interest, if the project spans several years?

This allows you to make an offer without a HI contingency which is much more competitive than one with the contingency since you are buying the property as is.You can still get the home inspection after you settle to capture all of the detail items.