An extension cord going from the residential building to a motor home parked on the property would be a municipal code violation in our town.

Ie zip codes, household income, age. 

Not around here, unless it meets code for a bedroom, etc.

This is fine because I can bring everything up to code and get the work done cheap.I don't imagine that the previous owner would ever come back but I want to be on the safe side. 

I'm pretty sure that section of the code are regulations for Division of Insurance.  

If not just get a renovation plan together with your construction team and go to the Building Dept. in the town the house is in and tell the building/code official of your desire to renovate the home to a safe and livable condition and obtain the building permit applications to start the project once you close.Fannie Mae for me has allowed 7 day inspections although they have never renegotiated a price.

Barring a lot of capex or deferred Maint, even with 3% tacked onto closing cost, I am showing a 19 % coc return.Is the 10% vacancy the market rate or is that a conservative number?  

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Our latest tactic was to call code enforcement for the numerous code violations, but that is temporary not a permanent fix either.

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