Analysis of property should I move forward

[Sherwin Vargas]

Let me know what you guys were do, Our gut is saying to pull out but looking for opinions 

we would have to pay everything and all past due per condition of bank because they are ready to foreclose on current owner which is a friend of ours. 

multifamily sale from bank - 132,500 cost

To aquisition home need to pay 12500 in past due payments and growing 

past due bills on home, 
Taxes are up to date

Water + sewer $5019.98

Currently receiving $150 daily fines from city today is day 6 - $900

Needs about 4-5000 to get rid of the fines and fix problems the home has. 

total acquisition and get home in ok condition : $19319.98

Total cost of home $140k about 

Comparables as is at about 160k 165k 

Should be move forward or should be back out. We could stand to make 20k possible things always sneak up. 

Current gross rents 2450 

we would be cash flowing about $1000 a month maybe more. 

Would you move in on the house and acquire it or back out of the deal? my big issue is putting in 20k to possibly in the future make 20k but not certain is risky.