Lawyer on contingency.  

Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.Besides doing that on here make sure to get out to some of the many local investor events we have.  

If it is just a dated house that needs new paint, carpet, appliances etc...you should be fine....as long as the home appraises.To cover yourself just in case....add some language in the contract that covers you...ie no loan contingency etc.  

As many have said, you still build in your 'subject to' contingency, but its easier for all parties to just wait for the P&S agreement.  

These include contingencies, closing date, cash vs. financed, type of financing (conventional better than FHA which is better than DVA)...

.$1,850 versus $150,000 is just over 1.2% rents and it appears you're paying the electric bill which artificially inflates that number.Having to put 8% of your rents towards flood insurance and another 8% towards property insurance is crazy.Property taxes aren't terrible, I like to see them under 1 months rent.You have no property management, lawn care, repair contingency, vacancy contingency, or CAPEX contingency in your numbers.The seller obviously isn't doing you any favors on financing... high interest and short amortization I'm guessing. 

Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.Besides doing that on here make sure to get out to some of the many local investor events we have.  

Don't allude to the fact that most of them don't have a pot to piss in and make their offers contingent on a nebulous 3rd party agreeing to give them a $hitload of money to buy the property.  

Lots of great connections all over but we also have a very strong and active contingent here in MA on here so make sure to find them (Set up some keyword alerts to find out about local topics) and get connected.Besides doing that on here make sure to get out to some of the many local investor events we have.  

If I had tried to extend they would have cancelled the sale and kept my EMD.I offered no finance contingency, though I was getting a private loan from my sister and I stated as a note "no financing contingency and will close with a privately funded loan".