., so will have to make it back up. 

You can get a 10 day backup for X amount monthly/annually OR 30 day backup for for X amount monthly/annually. 

That can only take place if you have not covered your bases of having a good and real deal, having multiple back up buyers, and having enough time in your contract to do what needs to be done.Lastly, are you doing this legally and ethically?

As of right now I put the church on the back burner the owner is not really motivated to sell so ill check back with that latter down the road.

However, you'll want to plan to hold a long time - potentially long enough to ride the real estate cycle down and back up again, if we happen to be at the top right now. 

If laws get tougher or your municipality changes their position on vacation rentals you'll have a backup plan.

So I was watching some flipping shows and I saw the new Flip and Flop Vegas franchise used some cool CG to show how they were going to breakdown and build back up a certain room. and it hit me....why can't someone create an augmented reality App that uses the phone/tablet camera to do a real life snapshot or live feed to your phone screen, where you can change wall colors, add/remove furniture, appliances, and cabinetry.

But what do you see as wrong or overly risky about having a primary plan to buy and hold with a backup plan to quick flip vs refinance in the event that the bank takes their option?

Brownback vetoed a bill to override the changes just recently - I dont think the House/Senate have enough votes to override the veto to raise the rates back up at the moment.

Should I put in a back-up offer at asking, just in case?