Last legs of a vacation rental purchase

[Jason Blythe]

Hello All! I am looking for some advice on purchasing our first vacation rental. We are in the last bit of negotiation and have come to a crossroads with the results of the inspection. Long story short they want to reduce the price by about what we are expecting it to cost, but we don't have an estimate to back it up and we are afraid at least one of the repairs has the potential to cost more than expected. 

Our question is should we consider proceeding with the purchase because it is normal for the seller to not have the repairs done and at least they are reducing the price, or should we just walk because the repair cost is to unknown? I know there is risk in any purchase, we are just trying to not get in over our heads with our first one. We appreciate all comments!