If your regular insurance company won't write a policy (State Farm rejected my last one), pick up a "builder's risk" policy on it to cover you. 

Property 2:  Bank A appraisal (1/18/18) $190,000 (rejected by lender's automated valuation model); Bank B appraisal (3/1/18) $116,000.Unlike your situation, mine are NOT unique properties.

Results are returned quickly to make a decision and they will provide the letter to send if you need to reject a tenant.  

I studied the market for more than a year and all my offers were rejected before finally getting getting this fixer.

Then there are other clients who made honest claims and got rejected, got annoyed, cancelled their policy and then when they went to get insurance was denied due to the rejected claim from the previous ins. company... looks like the company's share notes on your claim history.

If not, the bank will reject your offer, or counter at $98K or some such.

===========Bank flat out rejected my offer, no counter.

I fully expect them to reject my first offer.

For example, we renovated a kitchen in one of our rental units and we had the cash to pay for it, but I put it on a credit card because it was interest free for 18 months, plus 1.5% cash back, as well as a $150 bonus....so now ill just let that balance linger and make my monthly payments and then when the intro period is close to over, ill pay it off and maybe never use that card again, or maybe pay it all off except a couple hundred so they can get a few bucks of interest on me.One thing I have noticed is that if they never earn any interest off you, they wont let you open other cards or give you anymore good offers.....they will reject your application.

Then you'd make the offer and the bank could accept or reject the offer.