The building was in rough shape, and will undergo a full gut renovation that will include brand new framing, plumbing, electrical, and all finish work.

This house is around 700 sq/ft with a sagging roof, 1 interior wall separating this area with the kitchen, minimal floor joists, hardly any electrical and no plumbing.

@Benjamin MannLandlord is always responsible for common electrical.

s answer of applying heat tape to the pipes and tie that directly into the tenant's electric panel and disclose that in the lease or with an addendum. 

Summary of the findings: 1. 6 minor plumbing issues (accordion pipes in bathroom sinks, leak on dishwasher valve, grout in shower where there should be caulk etc)2. 2 minor electrical (outlet in 1 basement room doesn’t work, there are tons of other outlets that do work, and second floor bedroom light switch turns off the outlets in the room- all other rooms don’t do this).

There is no gas meter - the house is fully electric (heat pump, etc).

Also, if electric/gas is not split it's difficult to bill it back to tenants.

As we talked about, sometimes circumstances can happen to an investor and we as a company have been able to and will continue to do everything in our power, including covering some costs, to make sure they know we value their experience.  

The seller also conceded almost $5000 in repairs after the inspections due to some undisclosed safety issues with the electrical and plumbing.

Not sure why you want to buy it outright, never underestimate the power of leverage, in the beginning, at the end, whenever,if it works.