Purchase Price: 175kARV 300kRehab 70kInitially we had budgeted for 55k rehab - so when the bid came back at 70k, our numbers no longer worked, so we backed out during 10 day contingency period in order to get EMD back.The question is, the property is now listed again at 140k (same as initial listing) Is it ok to make another offer but for less?

I lost count on how many times I lost out to full price no contingency cash offers.

I think a lot probably depends on your contingent liabilities and your relationship with the bank.  

That is how we have done it when we are buying with an inspection contingency.

I am making an offer contingent on inspection.

what are some of the contingencies that i should include in my contract?

Hello Daryl,I agree with @David Ivy, carefully cost out your property taxes, insurance, utilities and cost of money, also cushion your budget with a 10-15% contingency on hold costs.

But, again, are there any hidden techniques out there that will maybe entice a bank to accept one offer over another, other than the givens (cash, no contingencies, etc)Thanks guys!

It's contingent.  

In my local market, almost everything is selling for cash, over asking price, no contingencies, no inspections, no appraisals.