It might be a good idea and it shouldn't cost too much as it is all computer generated.

@Samson OniI would ask for a credit for the amount it would cost you to fix.

There is also room to add on and make it a triplex, I need to get quotes for the cost. 

U may want to try it and book a room and see for your self.. so for my trip to DC 3 nights cost me ( actually just checked) it was 60.00 extra 20.00 per night for 24 hour cancellation and half of  that for 5 days.. 

Investing with foreknowledge that property values are falling seems like a timing problem or at least a situation where my offer would be reduced to reflect this coming change.As to how much to put in as a down payment that depends more on your numbers, your risk tolerance, ability to get financing, cost of financing, etc. 

Looking for something that helps factor in all variables, fixed costs, interest paid on hard money loans, reno costs, etc etc. 

Upgrading is an owner cost.

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620, many blemishes, but should have no evictions in last 2 years.

Make sure you are asking about all the terms - the maturity date, the adjustment period, the costs, etc.  

Many of the eastside suburbs also have POS ordinances which can make transactions a little tricky depending on the property and municipality.