During my first MF purchase, it was pretty cut and dry on what I could afford because I was only going off of a W2.  

Thankfully I am already on the path to success, but additional cash would simply save me time.Thank youXavier

The building does have quest water lines that are all behind drywall except when they connect to fixtures and appliances.It would be expensive to repipe this as a lot of drywall would have to be cut and then repaired.I know it's a risk to wait for a leak to start and then to repair just that section.I'm getting an ok buy price and the seller won't go any lower.  

That is simply because they are higher risk for the lender since they are not insured by a government entity and the lender will demand to be compensated for that risk. 

I don’t know how hard it would be to simply attach an Ac unit.

This house has had price cut and we may be able to get it at around $60k.

Rather, they will simply go to Zillow or Redfin and find the estimate of what the property is worth.

Do they simply wire the cash to us and we purchase the property in our names?

I would suggest cutting down the list, more than 1 when you are starting out is FOMO

Many say that buying for appreciation is simply gambling.