"No utilities for Appraisal" Bank Owned Property / Advise? / Shared Experiences?

[Joey Palmer]

@Theohicks and myself our offering on a money making dream of a 4-plex here in Cincinnati. It is a bank owned property that has just been listed at an extremely low price to encourage a bidding war, they've succeeded. The "final best bid/offers" are due on Friday. The kicker is they are only accepting offers without utilities for inspection, appraisal or underwriting. My lender will still be able to conduct an appraisal but again without utilities. 

Lucky for us, our lender will still lend the money. However, this is a foreclosed property in the mid-west, it gets cold during the winter. What kind of issues could the bank be hiding or not willing to face, burst pipes? 

If anyone has completed a deal like this or have some advice I would very much appreciate it. The #'s are great, making it a must buy for us. What is the worst that could happen?

[Wayne Brooks]

Did you do a pressure check?