Didn't want it to be whopping, unforeseen fees or miscellaneous costs.  

When estimating, would you add any additional safety factor on top of the original rehab budget just to account for any unforeseen? 

That way, barring any unforeseen concerns, I will know with a strong degree of certainty that Ill get funding approved and secure my earnest money.

Sometimes longer if there are other unforeseens (town or city providing documents could take longer).

Either way I'd budget some CapEx money away for the unforeseen, probably $150-$200/mo.As to the offer, my understanding is it's $290k firm (which I found out does include all closing costs and the broker's 3% fee).The inside is definitely a converted house. 

Don't forget Rule 2The single best way to not lose money is to have some sort of cash reserves to cover unforeseen expenses.

So I just wanted to make sure there was nobody out there that got a potential property denied because of unforeseen guidelines that weren't outlined in writing. 

Another unforeseen delay was due to the location of the various underground utilities.

With the relatively high rate of savings you're capable of and the slow rate of acquisition, you will have ample time and flexibility to react to unforeseen circumstances as some others have said.Something I haven't heard mentioned yet in the thread is that properties with conventional financing automatically tend to de-leverage over time. 

Lots of unforeseen expenses in a full gut rehab.