A few ways that may help increase your reserves would be an FHA 203k loan or equivalent lending program which would allow renovation costs to be added to the loan.

Tax Certificate: 20193/1 1069sq ft650/rent estimator - Comps average 60K3. 

I have worked as on office manager to a general contractor many years ago, I worked as a project managers assistant at the same company, which led me to go to school and earn a project managers certification.

University of PA has their mortgage and home improvement program available in the  Forgotten Bottom which the University considers Grays Ferry but it doesn’t include ‘the real Grays Ferry’. 

As a first time hombuyer I was accepted into a program that offers assistance.

Should I consider repairing the well and going that route or stick to city water and implement a better submetering program to recapture more than 30% of the cost of water?

They sell teaching programs, but the free content they give in their podcast is really good.

Low down payment programs exist that might help you out.Always happy to answer any questions you might have.

Been reading up on "seller buyback" programs. 

There may be DP-assistance programs as well for 1st-time buyers.