Purchasing MF - need advice on next steps

[Peter Fokas]

Looking to purchase a 6 family building. Inspection came back with a bunch of issues. Whats is best strategy in getting these addressed? Request seller to fix or negotiate credit adjustments to price?

Termite damage - needs to be treated

Temite damage - extent of damage unknown so need to inspect further

termite damage - damaged beam needs to be reinforced properly. Right now have makeshift wood column providing additional support

Electrical - replace Federal Pacific equipment, replace fuse panels with circuit breaker panels, remove or disable any knob and tube wiring

move air conditioner so can inspect fire escapes

chimney -Have a qualified chimney contractor service or repair the chimney(s) as required to assure long term function and safety

Old Roof - have roof contractor inspect and find out cost to replace as its old

Some floor tile in common halls is older 9 inch floor tile of a type commonly containing asbestos - do I need to be concerned?

Section of drain pipe poorly connected into opening into older drain pipe - this is health hazard so need to rectify

back entry steps need to be repaired or replaced

roof drainage - Have the roof drainage system cleaned and maintained on a regular basis by a qualified gutter maintenance company, do I need flood insurance?

plumber replace all old iron or brass water supply pipe and aging shutoff valves

plumber replace the lead water main and main water shutoff valve and repair or replace it as necessary

Pro-active replacement of these old heating systems with new units.

Have a qualified contractor modify the stair railings to ensure they are safe and comply with modern standards.