I don’t know how extensive it is but considering the price it may be worth taking the afternoon to get an opinion.  

I travel extensively (250 + days a year) and they landed me great tenants for the first floor unit pretty quick with zero effort on my behalf.  

I've talked extensively to lenders about this and they all shrug and say that's just how it is.

My brother in law and sister are currently doing a live in flip in Charlotte where the numbers are crazy and I will say from their experience to be ready for anything and have adequate reserves on hand for issues that you need to prioritize for (I.e. in case an appliance goes out, heat/air go out, etc.).Not doing it personally like I said but from what I’ve seen it could for sure be overwhelming living around it so having that discussion with your girl beforehand as if the property needs considerable rehab you could both be relatively comfortable in part of the home if extensive rehab is required.

Another option for forced appreciation is to build an extension and add a third bedroom, but not sure if that is worth it either.

if your closing date came and went with no written extension then your out of contract.. your not obligated to buy and he/she is not obligated to sell.. you no longer have a contract.. unless there is some language that gives auto extensions for these type of events.

have you used it extensively?

The title company requested an extension on the 19th because they were closed for Christmas on the 26th.

@Mason Wade MorrisI would ask for an extension on your contingency period.Find any available microfilm from city or tax jacket from taxing authority.If i understand right your 2nd/potential 3rd bed doesnt have a window.In my area I would immediately be concerned about the 2nd bath as well.

If the work is not 100% complete by the end of the Escrow period, lender may implement a .50% (on total loan balance) extension fee that will cover an additional construction term of 60 days.