As to the advice of trying to sneak in the rough electrical wiring while still getting permits for the other large items, I find this advice is not very practical in most circumstances, the inspector will be there to inspect your other permitted items and there is no way to hide rough electrical rewrite of a home.

The current SFH I working on I am doing a cashout refi at 3.25%, I'm purchasing the house cash, will renovate, and refinance ARV, after repair value, with a traditional loan. 

I was also wondering with being in a "buyers market" who is typically paying for the closing costs on a traditional sale, the buyer or the seller?

Unless you have specifically hired the inspector to give you an OPINION on a home, then what they should be doing is "calling out" items of note . . . which are present in EVERY home, regardless of age or condition.The inspector ALWAYS works for the person that hired them; either the buyer or the seller. 

Its traditionally easier if you end up with a lead on a wholesale type property to instead simply represent the buyer you bring to the transaction. 

The number of new builds over the past 10 years has been the lowest in recorded history, nearly 397k per year TOO FEW homes built, creates nearly a 4 million home supply issue.Our Market has traditionally had 3600 to 4000 homes available in a 600k person county.

I'm pretty sure the down payment isn't a problem, and I'm pretty sure he'd have a hard time getting a "traditional" mortgage because, without even seeing them, I'm sure his tax returns are (from a 'traditional mortgage' perspective, but not otherwise) a hot mess.

However, the total mortgage interest and tax (up to 10k) can be deducted as itemized deducted as this will be your primary residence even without renting it out. 

@Douglas Mcqueen amazing what some simple flooring and some cosmetic items can do.

On Saturday I received the inspection report and few items made me think, WTF kind of TK job is this?