Park owned homes deserve a cap above 10% IMHO and you can adjust to this such as public sewer and water, metered or not, etc.

I know I need to have the property tax adjusted, I need to switch over the utilities that are in the current owners name.

Is it isolated and/or relatively minor such as old 9" tiles in the basement, insulation wrap around pipes or ducts for the heating system; vermiculate in the attic; or something more intense as in asbestus in the plaster used on walls or ceilings.If the form of asbestos present is highly/easily friable and cannot be adequately sealed from the living space, you are looking at abatement the cost of which could be small (removing tiles or pipe wrap) to considerable (removing all the plaster in the house).  

I have never had the IRS redeem a property I bought at auction and I bought my first ones in the late 70's.so for all intense and purposes if you have a BOA loan recorded in 2000 and you have all manner of other liens and judgmetns or mortgages recorded after this they will get extinguished at the sale.. 

Vacation properties can be management-intensive.  

If there's some way to compel the Seller to give you what you need to make you whole, whether it's access-- or an Easement-- or a boundary line adjustment around structure-- or a boundary line adjustment around structure PLUS setback--  and/or all of the aforementioned plus enough land to make it a legal lot on its own (e.g., if the acreage is shy from the zoning requirement in the neighborhood,) then a good lawyer will know it.  

Can't argue there, it is very cash intensive and dealing with attorneys is annoying as hell.

It can be a management intensive endeavor if you have to match up the roommates.

You can then look at Mibor and see the average sales to asking price and make some adjustments to your estimated value.

You may have a deferred maintenance (check age or roof, AC, WaterHeaters, foundation) Congrats on long term tenants, probably rent is way below market, may small nice adjustments after taking over - like $20 per year or so to keep tenants in place.