Which basically tells the seller that you are going to do an inspection, but that the inspection is for informational purposes only and you will not request any repairs be completed by the seller.This clause also gives you your full right to do an inspection during the neogitated timeframe and if issues arise that make you not want to proceed your purchase you can exercise your inspection contingency and back out with your earnest money being returned by the seller.This is usually a compromise for someone who wants to make their offer more aggressive in the sellers eyes, but is not comfortable (based on experience or condition of the property or both) to submit an offer with no inspection contingency.I agree with @Mindy Jensen. 

LL who get into problems are either compromising screening or not managing money.

This thread is absolutely as frustrating and terrifying as it gets, DO NOT do your own structural work on ANY property if you do not know what your doing, it is STRUCTURAL, if you mess it up, which you will if you don't know what your doing, that means you will compromise the structure, there is no such thing as "ah, oh well, it was only holding the house up, no big deal".