I'm under contract with an out of state property, which will be a STR. This would be my 3rd house purchase, but my 1st long distance deal.

The inspection came back with many items that need repair. Way more than I'd like to be dealing with for what should have been 'turnkey'. They include:

-Various gaps/openings in soffits, improperly installed roof flashings, a few other building envelope items

-LEAKS from: hot water heater, showerhead, cast iron pipe from toilet, HVAC. 

-over-fused, poorly labelled electrical panel. several ungrounded outlets.

-one of the three bedrooms does not have dedicated HVAC, or an operable window. major Code/Egress issue

-water spots in the basement from 1.all these leaks, and 2. the earth grades down towards the house on one wall. Not to mention there's no gutters or downspouts.

There's other items, but you get the idea. I'm aware that if you buy turnkey, you're buying a flip. I'm OK with that, since in this case it would cashflow really well.  But having a laundry list of items for the seller to fix(who couldn't properly rehab the house in the first place, so why should I trust him) seems counterintuitive to the point of the strategy. 

Is this common in most turnkey operations? Am I being overly picky? 

Thanks all.