Repair list for seller, need advice!

[Eric Telese]

Hi everyone! @Rich V. and myself are currently under contract on our first rental property in East Point, GA- just south of Atlanta. Our due diligence period ends on 10/23. We have had our inspection report done a few days ago and have now compiled a repair list highlighting all issues discovered in the report. It is a 1,156 sq foot, 3 bed, 1 bathroom single family home: Zillow Listing. We are under contract at the top of our budget for this particular house where the numbers will still make sense for us.

We have uncovered a lot of issues after our inspection report. Most of my gut tells me that these are too many issues for comfort on our first property, and to find a new one. But, we also will not walk away without asking for repairs/lower price to try to find a way to make this deal work and still hit our numbers. We have $3500 in rehab costs already planned for, but I think this list looks more like 10k-15k. If this is the case, we would need either some of the big repairs met, or a pretty drastic decrease in agreed price. Keep in mind we do not have known cost amounts for these repair items, and can just make estimates, and hope no other costly issues are uncovered after attacking some of the repairs.

My question is, with our next interaction with the selling agent, should we:

A) Ask for the major repairs be met

B) Ask for a decrease in agreed upon price (without great idea of what the repairs will cost)

C) A combination of both; settle with some repairs met, and a decrease in price

Our entire list is below: (keep in mind that I am not sure if all of these things need direct attention to get the unit rent-able, or if some items can be overlooked for now and deal with later as they become more of a problem)

Repair List:

Items that need attention before renting unit:

Big Ticket Items:

Install furnace
Install all new appliances
Install water heater
Exterior electric power supply is damaged, needs repair
Install gutters
No termite treatment
No gas meter, install new
Attic decking has moisture damage, needs repair

Smaller Repair Items:

Install electric panel faceplate and secure exposed wires
Two prong outlets (could not test), swap out, install GFCI where needed
Trim tree limbs in contact with power lines
Missing light cover under front entrance
Repair kitchen windows
Repair kitchen sink leak
Repair utility room leak
Insulate attic
Seal gaps in living room door
Loose bathroom faucet
Adjust shower water pressure
Patchwork performed in multiple rooms, walls are plaster on wood lathe- which I have been told can have asbestos issues once opened up

Deferred Cost Items:

Large tree removal
Torn and missing roof shingles
Seal plumbing boots on roof
Raised soffit under car port
Secure electrical lines in attic, they run over attic stringers, not through them (necessary?)
Hose bib loose
Install concrete pad at rear service door

If you made it this far, thanks so much for reading! Advice/opinions on any aspect of this post are greatly appreciated!