Apartment building sale who covers code repairs

[Scott Painter]

I have a 4 plex that should close in June. The inspector came today and found small issues like not enough insulation on AC lines, not enough smoke alarms etc.  Furnaces were about 12 years old which we knew when we wrote a full price offer.

Big issues - 

1 Electric main too low to ground for code (over 10 feet clearance needed). 

2 Broken pipe and pooled water with fungal growth in crawl pace.  

3 Floor footings in crawl space on screw jacks is not proper. Slight floor bow.   

Who is responsible for major repairs or how should I proceed. 

Rents are $550 a month, building is full, and the building is $115K. School district is awesome. Homes stay on market less than a month.

http://www.realtor.com/realestateandhomes-detail/600-W-Washington-St_Chandler_IN_47610_M34910-59136?row=7