In other areas, water and even electric are sometimes provided by the municipality. 

Needs electrical, plumbing, walls, paint, appliances, trim.

And you don’t mention whether the fuel source is electric or gas or oil.And all of the above assumed a central heating system; it’s quite possible you have electric baseboards that could lead to other questions ...

Determine purchase prices, rehab numbers, your all in costs, borrowing power.

The electricity and water have been off for a while.

That's a powerful engine. 

I had the building wired for electric heat during the building's re-wiring, so it would be fairly quick to pop in electric baseboards.

A checkbook IRA is a very powerful and flexible tool. 

Fun debt fact: for every $400 of monthly debt payments you owe, you lose $100k in buying power!! 

Roof, HVAC, electrical panel, windows, foundation, potential high dollar problems.