Is the condition of the property good? 

My belief is purchaser had more info on inside condition than I had or was buying to OO.  

Quote from @Corey Gelineau: The inspection contingency is used to legally back out of a contract due to the property being in an unacceptable condition upon inspecting the property.

The condition of the property was less than we anticipated.

While some leases say they will remove all evidence the sign was there and restore to original condition, I doubt that happens in bankruptcy for example. 

I've been investing on the area for years and I haven't seen that kind of conditions anywhere else. 

And along these lines, if they move out, what condition does building and property need to be in?  

When it comes to choosing between a turnkey property and a fixer-upper using the BRRRR strategy, it really depends on various factors, including your market conditions and where you are in your investing journey.

- Having minor maintenance taken care of at no cost - Regular cleanings and maintenance so small issues don't become big issues- A hands off tenant who never bothers the landlord- A property maintained in new condition because it's in the tenant's interestI used to do primarily rental arbitrage but shifted to STR/MTR property management.

With that said, the properties that were prepped and in good condition still rented quickly and on the higher end of the market range.