That is a clear, defined objective.

If that's SFR's, let a professional list and sell the land, get a 1031 exchanger involved to handle the proceeds, and purchase replacement property(ies) that suit your investment portfolio growth objectives.

That objective comes in two basic sub-categories: people who value current income, and people who value future appreciation. 

The property has to be purchasable at that price, or you don't do that deal.I know it seems like semantics because, yes, you can rearrange the formula but if you have the foregone conclusion of what the purchase price is, you could be tempted to fudge repairs or choose slightly better comps to make it work, but if the comps and repairs are figured out objectively, then you can't argue with the MAO.Hope you follow my thinking.  

I like the objective look at things.  

Define your objective on what you wish to do - Long term buy and hold or Quick Flip. 

When push comes to shove, judges are notoriously favorable to tenants.However, I would never discount the power of having something in writing whether it would pass judgement in court or not, almost always whatever is in the lease will never end up being ruled on by a judge because tenants will often just drop their objections if it's in writing.

Don't know your investment objectives or goals.

If they're doing the inspection on the last day of the contingency period, they will need to give you any objections that same day.

"good idea" depends on what your objectives are, but I'd be happy to help you out!