I hope you protected your earnest money funds with contingencies in the contract - especially for the timeline in which to gain approval.

Always a good time to buy right what you know well.It's never a good time to be in the back of the line of owner-occ buyers over-bidding and removing your protective contingencies like inspections or low appraisals. 

Wholesalers typically don't allow for inspection contingencies which could make it hard for you to get funding if you're not paying cash or working with their in house hard money lender. 

The sellers have agreed to issue a 60-day notice to the tenants upon the removal of my inspection contingency, which I would like done so I can occupy the house.One of them is an attorney and filed an addendum with their estoppel to indicate a few things about the lease.

Make sure you negotiate a long enough contingency period that you have time to find a buyer.

But you will have to remember about contingencies - on the results of the inspection/appraisal if you are doing those, on financing, if you are getting a mortgage, etc.You definitely want a titling company to search the title and anything outstanding against the property, and issue you a title insurance policy and a gap insurance policy, as well as do your closing.Also, depending on if you will buy cash or get a mortgage, the lender will/may require an inspection and an appraisal.

Would your investment be contingent upon gaining all necessary approvals?

This might sort itself within a month or six; for the time being I'd suggest everyone play it safe with their financing contingency if they want to give it a shot & Realtors pick another pond to fish in if you value your time.I made a lot of bad news phone calls today.

Can a contingent offer be made on inspection or are they typically as is?

@Joseph Ayala It sounds like a financing contingency, which is a standard part of an offer or P&S.It will say something like this; "This offer is contingent on the buyer obtaining a mortgage at prevailing terms and conditions.