The appraisal contingency report was not sent over.   

I was told I needed to pay $100.00 (non refundable) directly to the seller in order to cancel the sale or renegotiate if the inspection reveals a major problem with the property. I also put in the contract that I woul...

We signed two separate P&S's with no contingency that they had to be sold together or one depended on the other.

We signed two separate P&S's with no contingency that they had to be sold together or one depended on the other.

I go non-contingent 7-day close. 

I haven't been able to close due to a bank contingency requesting a General contractor and a 203 Hud consultant.

And you are going to bring in 10% of your own money as you won't get 100% financing, But i don't think you have that money yet because it's contingent upon the selling of your current residence. and then within the next year you'll have to refinance out of that hard money loan to get into a conventional loan, that's paying closing costs twice on the same house and in year from now getting the exact same loan on the exact same house twice with no guarantee that conventional rates are going to hold steady for a year when you are going to be forced to refi.Let's keep in mind that we haven't run a single inspection or appraisal up to this point either.You would have owned this house for at least 6 months up to this point without a single payment to your principal.Your new loan amount and all in costs should be around 250k after all costs, inspections, 2 closings etc and your praying rates hold steady.or..... buy a house right now on the MLS for 300k using 20% down no hassles and no mortgage insurance.

I still leave the inspection contingency in the contract knowing I am buying whereas, where is.  

    - the ARV considers comps in the area once the place is in good shape for a regular sale  NOTE: the offer I'm making of course contingent to inspection on all units and a last thing to add is that the owners just want to sell and are not interested on anything concerning this property.My intention is to hold the property and probably add some other structures after a few years.

If you self-manage then you can consider that contingency for other expenses until you decide to start utilizing a PM.Best of luck!