Renegotiate or back out the deal

[Freddy Alban]

Hello BP,

I recently went under contract for a property that has 1.74 acres the main house was built 1900 and has 2/1 1092sq ft. There is a shed with electricity and water that would need some rehab as well to be rented out for 800$ (previous owner rented it out to one of her family members) I plan on rehabbing this shed next year.

Ask: 100k

ARV: 180k

Repairs: 30k

Rent: $1200$

The repair budget includes making the Maine house a 3/2 and fixing some other minor stuff. Today I received the inspection report and it stated that there are multiple things wrong with the house and that would throw our rehab budget to extra 10-15k.

This is my first deal and buying this property through a realtor/ wholesaler. I'm afraid if I continue I would run out of cash (Financing this with HML) should I go back to the wholesaler and renegotiate or just walk away?

Thanks in advance for your feedback.