Work with a mortgage broker to understand your borrowing power. 

This is the time to be difficult if need be, trust me the seller will not cancel the because of this (if they do, they are required to disclose to the new buyer the termites and they are in the same boat.)

The house price is certainly higher than the median but thats right in the power alley for a very large group of buyers.

I had to round up all kinds of evidence like power company records (showing two meters and two addresses to bill), testimonials from neighbors who have been there a long time indicating there has always been "TWO FRONT DOORS", county property tax records showing how it has always been billed, floor plans showing back to back kitchens on either side of the kitchen wall, and pictures in the attic showing the common DWV for both is in cast iron which was typical back in the days of original construction, as well as two electrical panels and showing pictures of EMT conduits coming up from both in the attic indicating again the wiring was done back in the days when EMT was common practice. 

I hate trimming with an under powered tool.  

Plus, it's only as "cheap" as it is right now because there's a glut of Chinese power plants not doing anything else.

Can anyone provide a real-world scenario to show how this would affect someone's buying power (old financing vs. new)?

Of course, I have mentors and contacts to answer these questions if need be but I know the power of community and that there will be others with similar questions.

I am in the same boat looking to buy multifmily investment property in North Jersey ideally 10+ units.

No need to rock the boat consolidating and refinancing mortgages or chase a shady partnership.