Make sure you do some research on impact fees in your area (a fee to get permission to connect to the water/sewer).

It seems that depending on the type of property and whether it is being rented or not will impact the amount that you can put down. 

Another risk especially given as you say this home is in need of major work - the tenant could start filing complaints against the home's conditions as soon as it is sold -  which would put the brakes on any removal process AND force you to make updates to the home for their benefit, or force you to pay fines and pay their moving costs.   

Is there a way to estimate the impact on the bill? 

Does your State/market allow for a legal means to force the seller to make the repairs --- it would seem very odd to me?

The concern is if they do a hard pull on your credit,  your credit score will be impacted. 

City may also force you to do something.  

If you don't mind me asking, you mentioned not doing many flips, if you had the opportunity to purchase this home at about a 30k discount as is or finishing some projects the current home owner started forcing equity and potentially selling at an arv of 450k-470k would you personally consider this deal and if so, how would you take it on?

If supply and demand can't correct the difficulty with price, then some sort of regulatory force is acting on the industry that needs to be removed, because we are all screaming for more GCs from sea to shining sea.

I don’t have the funds so I was forced to wholesale.