Think about it....an addition is built without a permit or inspections.

You might want to get your regulars agent to take a look at it for your market.I'm sure agents fight to keep the deals together if things start to go south, like a tough inspection, or some other issue when the commission is more. 

I charge good rents, require steep security deposits, schedule regular inspections, take incoming and outgoing photos, videos, and descriptions, and hold the tenants responsible for every item.

For those that have gone through the process how long did it take for building inspections and licensing ?

Go under the house and inspect all the floor joist, sill plates, rim joist, support piers, etc.

Have a thorough foundation inspection done. 2.

Do you get inspections?

They were all conditional on the inspection (and financing), so I had an out.  

I will be somewhat tough if you don't buy soon as the holiday bookings will make it difficult to transition, get inspections and closing dates to coincide with very tight windows and also the possibility of cancelling existing reservations for people that have big holiday bookings.Depending on what type of property you are looking at will make big difference also.

Prior to the advent of AIrBNB and VRBO, bed and breakfast were licensed, inspected and regulated just like hotels.