They said they would do an option agreement while I worked on financing and due diligence, I'm waiting to hear back on the specifics. 

They have done their due diligence and offered fair loan terms.  

Come up with a due diligence plan and proceed. 

People can be VERY diligent with trying to get free stuff, and your tenants have plenty of time on their hands!  

In this market, properties are almost renting themselves, but due diligence is definite, especially with leasing.   

Even then, I would continue my marketing funnel while I did my due diligence for a few days and then signed the lease. 

Always ofcourse in collaboration with an architect who is doing the due diligence checks so you know for sure you can get it.As a foreigner it is as easy as for residents to get a mortgage, the only thing is that non-residents can get up to 70% LTV mortgages (80% for residents) and for tourist rentals it normally drops a bit more to around 60ish% LTV.

I have a feeling we might bail on this one, but definitely want to do my due diligence firstThanks everyone!

I assume that it’ll appraise for my purchase price based on my due diligence.

Scott The Book on Flipping Houses, The Book on Estimating ReHab Costs http://www.biggerpockets.com/flippingbookCouple good reads 9 Reasons You Couldn't Find A Buyer For Your Wholesale Deal Don't Start Wholesaling Until You Read This: Wholesale Advice from a Fix and Flipper How to Start Wholesaling: Getting Past The Education and Into the FieldUltimate Guide to wholesalinghttps://www.biggerpockets.com/renewsblog/2015/01/31/ultimate-beginners-guide-real-estate-wholesaling-2/Download BP’s newest book here some good due diligence in Chapter 10.