You do not want to skimp on the due diligence, buy this property, and pour time/effort/money into the rehab only to find out you cannot sell it due to a deed restriction not allowing the additional bedroom. 

For me, insurance isn't where I want to skimp out.

Personally I hate patches on roofs, it's one area of the structure where you don't want to skimp because water damage gets expensive really quickly.

@Michael Andrews  Knowing zero about the property other than what you wrote, I suspect that this is a deal in which the owner was either undercapitalized coming in, or skimped on maintenance, and now is in a situation where s/he cannot raise rents because the apartments are in bad shape, and s/he can't renovate the apartments because s/he lacks the cash and cannot afford any vacancy at all or their cash flow goes negative.It also seems that they know the market well enough, or are being advised by someone who does, that they have priced the property AS IF the renovations were done and the new rents were in place.  

If you fix your home and renovate it properly, make the upgrades and repairs when you buy them, you wont get that many repairs (seriously, I get less than 600/yr so far, but I fix my properties up correctly and don't skimp on repairs).

I will ask if you are truly getting a deal in this case, why skimp on a few hundred bucks to work with an attorney?

DO NOT skimp on inspecting well septic furnace roof and foundation.  

We didn't skimp on quality, opting for high-end finishes that significantly boosted the property's value and appeal.

I'd like to test for Radon before I invest in a system.So, my question is, can I skimp on a DIY test and get a decent enough result to make a decision?

Not only did the rehabber skimp on appliances and finishes but then I saw this!