@Kyle Larson has been laying some interesting ground work and test out there with direct mail but we have a different approach that should fire up as soon as this is under contract and past inspection contingency...we will know more soon and I will try to log our work more diligently...real journals.

Can I add a contingency clause that I get the land back and he gets any $ back should for what ever reason he wants to back out?

Additionally, the seller has yet to obtain the Certificate of Occupancy from the city (but will be required to do so before settlement as a contingency for the transaction).The RE taxes at the moment for the property are attractively low (but comparable to neighboring properties that are tenant occupied).  

Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.Besides doing that on here make sure to get out to some of the many local investor events we have.  

In my option form, in bold print, the option is NOT contingent upon the tenant/optionee's ability to obtain financing, a term that is typical in a real estate contract.  

A sale contract allowing a buyer to exercise the right to purchase or avoid the obligation is not an option You can have contingencies in a sale contract.If it's not an option there can't be an option price!

Most houses I bid on will not allow for the contingency of a professional home inspector.  

So are there contingencies that would allow you to back out? 

That's why the mortgage broker is asking.However, read the exact language of your buyer's financing contingency. 

Frankly, if you don't know what you're doing, have failed to disclose to your agent and you just think you have some buyer for a measly sum, go to a bank, get turned down on your credit and/or lack of funds, take that to your agent, get your EM back under the financing contingency and walk away, then start over.And, as mentioned, sure hope it's not a foreclosure, REO or short sale.