@Dmitriy Fomichenko's insights were valuable and served as a reminder of the various aspects involved in this type of investment, particularly the need to outsource the entire operation.

The structure and roof is good with some issues I want fixed:-covert fuse box to 200amp cb panel-storage shed/garage water damageI’m seeking advice on how to make an offer with either the seller repairing these items (another investor I’m not sure I trust to do it properly) or asking for funds at closing (escrow). 

from the roof to the drywall work that was already finished!

If you ever get sued and want to use the business as a legal shield, having a separate business account that doesn't co-mingle with your personal funds will be important when it comes to the determination of whether what you have is a business or a personal hobby (though there are certainly lots of other aspects of this you need to investigate as well).

My initial criteria is to look for newer built houses to minimize maintenance and upfront cap expenditure on major items like HVAC, Roof, Foundation etc..

It needed a new roof, new septic tank, water heater, well pump, hardwood floor refinishing, light reno in kitchen (paint cabinets, replace countertops, 1 new appliance), full bathroom renovation on 2 bathrooms cleaning up wood rot on siding, painting exterior.

Most towns/cities have a master plan for the aspects/areas of the city that they are actively focusing their efforts on, and are pretty thorough with specific plans for carrying out those efforts with estimated timelines etc.

I don't about the building aspect of it, but if you can get it done for a reasonable price, I don't think you'd have any trouble renting it out.

I had a roof inspector who inspected the roof and certified that the roof is in good condition.

The roof is caving in and a lot more.