@Brian Varmuza I am sure the answer to this question will vary based on the area of the country, but in Connecticut where I am located and where there is a decent amount of competition for REOs it is definitely more common for offers to not include any inspection contingencies.

I for example have clients around the country.

The laws may differ in different parts of the country.

I read it varies depending on the area of the Country but I feel it shouldn't be that far off.Thank YouJustin L

As i said ive been researching and reading about real estate investing the last 3weeks and would greatly appreciate any suggestions or opinions that you guys might have.My aim is to invest in these 2 countries so im able to spend time in both countries and have cash flow through my rental properties.

That being said it probably won’t always be that good and I am in a totally different part of the country so that might not work for you.  5% is the lowest I would use though.

I have been living in Lynchburg, Virginia for the past 5-6 years although I am originally from south-eastern Pennsylvania. 

Funny thing is that buying a personal home is a life style decision that through out the life of ownership with payments, utilities, taxes, maintenance etc will cost,in 90% of the country, more than it will ever be worth.

We currently live in the country so moving more into the city or suburb would be a change but I think in the long wrong it would economically sound, especially once I can move out and rent out the entire house.  

It's also on the other side of the country from me.