Would you buy a house if buyer is responsible for U&O, COs, or certs?

[Phil C.]

There are a few foreclosures I've been eyeing, however, very clearly states that buyer is responsible for any certifications, including Use & Occupancy, Certificate of Occupancy's, permits etc or anything else.   

I find myself very eager to just pull the trigger because of the price, but I'm sure there's a lot more than meets the eye and as a newb investor, it can be an fast way to exit the RE game. Any advice from the experienced folk?

Question is, if the house is even 50% off market value and looks cosmetically ready to rent out, would you go for it?