(15 DD Period) Termites, Theft, and Structural Damage!

[Rosston Smith]

Hey guys! So I currently have my first every property (Duplex) under contract. Currently on day 8/15 of the due diligence period so I don't have much time left. Asking price was $90,000, ended up getting under contract for $86,500. 

I am using a 203k Streamlined (35k limit) loan. The home is in need of some basic repairs/improvements on the interior and my 35k limit has pretty much already been reached.

However, I just received the home inspection report and it turns out there's serious structural issues (floor sags in multiple places, downstairs and upstairs) due to termites. Also, all copper/freon lines have been stolen from under the house so only 1/3 AC units work. The copper water lines were stolen. There's also some HVAC damage and electrical problems with outlets not working. The seller has set aside $500 to put towards covering expenses required prior to closing. 

I have absolutely no idea how to go about this. My 35k limit has already been reached, and I have no intention of paying out of pocket directly for these expenses at this time. 

I have included some pictures of the damages. Looking for advice on how to handle this. Should I negotiate the price down significantly to make it worth it for myself? Or should I demand seller repair all structural/plumbing/electrical problems?

[Max T.]

negotiate the price down.

never have sellers perform repairs. they will do it on the cheap and easy just to get things done.