If this is the case, from a building perspective, what are the cons of buying this property?

I believe there to be much better markets out there from a tax, legal, appreciation & cash flow perspective. 

Better off waiting tables one shift a month than spending 20% down to buy oneself a sub minimum wage job.

I've been looking for some perspective and I really appreciate yours.  

So from a strategic perspective, yes, provide credits.Now, there is a legal perspective that you should consider as well.  

Many brokers and sellers are still fixated on sales comps that pre-date interest rate hikes, but the reality is that the cost of capital has forced pricing expectations to shift.

This is a mind shift completely if you want to be successful. 

From an IRS and state taxes perspective, it's unlikely there will be any ROI, unless there are significant assets, but consult a CPA in your state. 

Right now from a lender's perspective we have floor rates at 7.5 for 30 Year FRM.

Flash forward to 2021 - saved up as much as I could from the ICU nurse W2 position and purchased 2 more rentals - ended up going PRN at this time and picking up shifts when I could - then purchased my first self storage facility.