I am in the process of closing on my first OOS TK as well and do have an "As-Is" clause in the contract. When asked to clarify, TK told me that's referring to the post-rehab/renovation condition, not pre. The purpose of the clause, according the TK, is that they don't want to deal with the small/minor cosmetic stuff that sometimes home inspectors come up with down the road. My version of the purchase contract is also accompanied with a list of renovation done (or to-be done, by which vendor, stipulating which job comes with warranty, length of warranty, which doesn't - not all of them do).
Have you gone over all your questions on the contract with your TK and have them addressed your concern? If you haven't, I encourage you to do so. Explain what bothers you, and see what they say. If the TK is as reputable as it claims to be, it should stand behind its work and it won't worry about not able to offload the property to you if you get hung up on the language,
Order an inspection for sure after rehab. You can ask for inspection contingency but you might not get one. You have to decide if you then want to walk away or not, absent that contingency or specificity in the language. Speak to other investors who purchased from the TK and asked for their experience. It might help put you at ease. Hope this helps.
