Help me analyze my FIRST too good to be true deal

[Richard Arden]

Good Afternoon Everyone,

I am scheduled to view this deal this weekend and will get more info there.

I found this deal on the MLS and I'm kind of excited about it but I'm equally weary of it. It has been on market of a while and the price has recently decreased to a very low value in the area that i only see on very distressed property's. Naturally making me nervous. The pictures look fine (which i learned means almost nothing).

This will be my first deal I am looking to house hack it and do most of the cosmetic work myself and contracting more invasive and jobs that require a team. 

Some of my concerns are

1) The house is vacant and if you look at the photos there are paper signs near water outlets i assume saying the house is winterized. is this a giant red flag? Does the water even work?

2) Public records and the MLS state it is heated with oil. What if there is only one tank for all 3 units. what would be required to install more tanks, what about natural gas?

Other perks/info

The town will give heavy tax cuts due to my military service.

The home has a one bed room apt which is in low demand but is located walking distance to the main street of a popular summer town so air BNB may be on the table.

This house hack cashflows with me living there.

Do you think this is a deal?

I budgeted 20k for renno would you budget more or less? 

How can ensure there are no water or piping issued if the house is winterized?

What are some of the red flags to you?

Thank you for your support!!