Looking for advice on negotiation + rehab scope for a duplex under contract in Cola

[Qais Attarwala]

Hey everyone — would appreciate some input from folks who’ve done older duplex rehabs, this one is built in 1950

I’m currently under contract on a duplex in Columbia, SC (29205 area). Original purchase price is $310K. After getting the inspection back, the scope looks significantly heavier than I initially expected.

Some of the key issues from home inspection:

• Crawlspace: active leak, moisture issues, possible subfloor damage, signs of pests
• Plumbing: older galvanized + some active leaks
• Electrical: many outlets not grounded, some safety concerns
• No attic insulation + ventilation issues
• Interior: peeling paint throughout (pre-1978), possible moisture-related damage in areas, possible lead paint
• Misc: fascia/trim rot, bath venting into attic, appliance issues

My goal is to rent both units as furnished mid-term rentals.

Based on rough estimates (using J Scott-style rehab estimating + some contractor input), I’m coming in around:

• ~$60K–$90K rehab depending on how crawlspace/structural shakes out
• Plus additional cost for furnishing and fencing

There’s also a fully remodeled duplex nearby listed around ~$315K, which makes the current deal feel tight at my original purchase price.

My questions:

1. Negotiation strategy — would you:
   • Ask for a large price reduction (thinking ~$40K–$50K)?
   • Ask for seller credits instead?
   • Or try a combination / different approach?
2. Am I thinking about this correctly from a numbers standpoint, or does this feel like I’m forcing a deal?
3. For those experienced with crawlspace + moisture + pest combos — how often do these turn into much larger issues than expected?
4. This would be my first actual rehab on a property

I like the property, but I’m not overly attached and want to stay disciplined on numbers.

Appreciate any thoughts — especially from people who’ve been through similar older property rehabs.