Do I need to place an offer with inspection contingencies?

Hopefully these are non-structural shrinkage cracks...but just in case, the inspection may protect you against repair or insurance issues down the line, and may even be a useful bargaining chip for negotiating home price.If the seller is slippery, you can also ask your real estate attorney about writing in a $2k "cost of repair contingency".

I always add contingency to the number as I am now taking on the risk of the cost.

I was often told we had 20+ offers, some of them going for 100k per door or more, no inspections, no financing contingency were common.

And we removed our contingencies so if we pull out the seller can take our earnest money.Loan officer is claiming they don’t know what happened and has no explanation.

Make sure that you have the right resources and contingency plans in place before tackling a project.Waiting period: BRRRR is a strategy associated with a longer time horizon, which includes at least two waiting periods.

Thanks for all the responses, I think my gut it right to exit now, unfortunately my contract is no contingencies and so while I haven’t paid an EMD yet I will likely loose it.In the future I’ll make sure my agent has some kind of contingency in place, he was adamant that no contingencies is the way to go which ultimately he was right as I got the property under contract for 34k under asking.

So even purchasing this current price with an inspection contingency makes me nervous because the inspector could miss things and i can get screwed again!

What contingencies regarding the tenants do you have in your contract? 

I offered $75k with inspection contingency.