You'd want to know if the line is sagging in certain spots due to erosion of the concrete, any offsets in the line, cracks, root intrusion.

Your advice is spot on!

My budget is right around 350k is the maximum I could afford I have been looking around for a few months trying to spot a good deal.  

If I can self finance both the purchase and repairs I will be in a good spot to do it again in a year or 2.

So I would expect for the seller to tell you to take a hike, and you wont have to worry about your offer.Regardless of the repairs costs, unless you have reason to expect the appraisal came to the value in error (bad comps, errors in the specifics of the property, etc), than the $340k number was never going to happen.Sounds like the property has multiple problems, and it sounds like your not an expert at spotting these and have to rely on contractors, I would recommend you run from this property.  

That's pretty much the sweet spot here. 60-80k for the property needing about 40-50 in rehab plus taxes and closing.

@Bill GulleyWow, Thank you Bill for your wisdom, and your first few paragraphs are spot on as well.

No direct experience, but what i've heard from friends is if you have to evict it's as simple as hauling their trailer out of the spot. 

@Risa Hind In a similar spot and spent two months researching options and there's some good info on these boards.

There are some who won’t take no for an answer, some will actually ask you to call your credit card company to raise your limit (right there on the spot) so they can charge you more!