Bidding on an uninsured HUD property - Inspection question

[Tanya A.]

Hi, all.  Happy 2018!

I'm looking to bid on a property that is currently 30 days on market. Open to all bidders at this time. The home is uninsured and property disclosure states a failed pressure plumbing test and noting repairs that include plumbing, foundation, and wood rot (very vague/no specifics). The home was built in 1934 and is a 'non-contributing' property in a historic district. I understand as an investor that you lose your earnest money on HUD properties if you bail after an inspection. Also I would like to have a good idea of what exactly needs to be addressed and how much it might cost before even making my bid.

Advice on how to proceed with inspection? I know some companies offer free estimates so I'm wondering if it would be a faux pas to have a company do an estimate while I and the real estate agent are there? Or are there better ways to go about this?

Also, is it illegal or otherwise unwise to contact the previous (not current) home owner and ask about the property? I know who lived in the house before it was foreclosed. 

I am very new as this would be my first investment property. 

Any and all advice appreciated.