Should I Accept This Offer?

[Eduardo A.]

I am trying to get my first solo project done. I believe its a VA foreclosure even though a BOA contact number was left on the garage door. Here are the details:

4 bd 2 bath
Full unfinished basement
Lake in back yard
Using HML for funding

Purchase Price 56k
ARV at least 110k (there is one comp on the same street at 189k)
Rehab 20k at most, the sheetrock and carpet work in the basement looks to be the most expensive part
I wanted 10 days due diligence, they won't go above 5. I would compromise at 7 but they said 5.

Cons
No utilities on for Due Diligence
Only 5 days Due Diligence
60 day no sale deed (I have to hold for 60 days before selling)
There is a billboard in the subdivision right next to the property. Has anyone had any experience with this?

I am considering backing out because I believe I need 7 days to get inspections and bids. What do you guys think?