Advice on next steps in a confusing situation

[Ed Dunbar]

Hello! I generally get good feedback on here and this is a situation that is a bit odd so I figure this is the spot for it. 

Got our first investment house under contract! Did a really low ball offer, had the owners counter and met in a decent starting spot. Considering, per BP Podcast, that being under contract is dating and not marriage here is the situation. 

We went under contract and got an extended closing date for November because the current owners have had the home rented to the same tennant for 30 years with zero rent increases; and the renter leaves in Nov. The current owners are elderly and trying to get rid of the hassle as it needs quite a bit of work. 

Going in, we knew there would be work which we were prepared to do, and figured we would further negotiate the price as needed. The inspection report reveals significant structural damage and the normal odds and ends on a 30+ year old home. Where I would like feedback is on our process. 

I am considering everything we are doing information gathering as I have scheduled 2 contractors to give me estimates on the repairs and what it will take to get this thing in reasonable condition. I am planning to get estimates for the structural issues and ask for that plus overages plus more off for the condition of the home which was not apparent upon first glance or a walkthrough. 

Additionally, I am considering getting a private appraisal because this home is quite hard to value. The realtor we use is also the listing agent so I know his main role is to represent us both; but after getting the inspection report and continuing to research I still feel as if we are a bit high. 

A. What would you do in a similar situation?

B. What am I missing? We did not pay any DD fee so our total out of pocket is just a few hundred for the inspection. Things have been taking a bit longer than anticipated because lining up contractors have been tough and the owners will only allow us on the property for a 2 hour window 1 time per week as the renter works nights. 

My thinking is that we just keep gathering info and that even though this has drug out a few weeks longer than anticipated so far, that that time actually works in our favor as they are going to have this hassle with any other buyer as well?

Anyway thoughts on those questions and if a private appraisal is a good idea or one you have used before?