Due diligence as to condition, market, value, title and insurability all fall under the financing contingencies.

Should the better option be to wait, build a larger down payment & see if prices fall?

Apparently not something you want to fall on if shoved. 

My goal this Fall is to educate myself as much as I can and how banks and private lenders lend on these type of deals. 

These include the appraised value established by the appraisal district for the county in which the property is located...In Wichita Falls, where I think @Matt Ellis is marketing, the tax appraisal is a pretty good guess of the retail sale price of non-distressed properties. 

i think most people will tell you the most important part is actually getting the property under contract, the rest can fall into place.  

Mold probably is not going to kill you.I suppose it could be falling beams, too.  

The Homestyle program could be a fall back if you can get the seller comfortable with the idea.

I do not need anyone right now, and realize the summer is the busiest season, but am trying to build a list of contacts that I can turn to for future projects that will be coming up in the fall/winter and potentially next spring.Would welcome referrals even if they are busy now.

This is my personal biggest falling with my web site.The rest is window dressing, in my somewhat humble opinion.