Advice on purchase for a newbie

[Nathan Marden]

We are under contract for a 4-plex. It’s in a very neglected complex with 7 other buildings (all owned by different investors). We did the inspection yesterday and the issues are a lot. Including: Roof damage, Wiring issues, cockroach problems, bathrooms all need fixed, 3 new appliances needed, Tree trimming, lots of safety issues, water damage, current tenants are really dirty and are not taking care of units, it seems the current owner has neglected it. One unit has 1 person on the lease but 9 adults living in it.

Would you recommend going back to the current owner and having him pay for repairs or renegotiating purchase price or just walking away?