Think about you business over a period of years.  

Unless there was some sort of "inspection" period noted on the contract you are not on the hook for much of anything.

Assuming the answers to both the above are good, I would take the deal with a long due diligence period and a "free look" contingency that you find a tenant for a certain number of sq ft at a certain price.

The loan product changes if the Annual Percentage Rate (APR) becomes “inaccurate,” or a prepayment penalty is added, a new Closing Disclosure must be provided and an additional three-business-day waiting period after receipt of the new Closing Disclosure is required before the loan can close.

All the rest comes from taking action and networking with other investors in the area.

Hi,Not sure if this makes sense, here is my grand plan1) Buy few Duplexes/Fourplexes that give cash flow (around 5, and as many as possible)2) 20 years later with substantial appreciation, use 1031 to buy a million dollar home. 3) rent for reasonable period, say 2 years4) MOVEIN to the home, to make it primary residence. 5) After 2 years SELL. no tax for first 500K.

Once you've lived in that house for 2 out of the previous 5 year period you can sell take (with your wife) the first $500K in profit tax free.  

I know you have 180 days to close but that 45 day identification period seems tight.  

The rest will fall into place.

I think you should go for it but wait for the advice of rest of people.