I have condo in MI, so I have a place to live in the mean time. But gradually the plan was to fix up everything and then move in. I made an offer of US$18000, and it was accepted. I am mechanically inclined and have all tool and means to fix such things, but I certainly would undergo a learning process and experience. Besides I would cater the house to fit my own preferences and needs (floor, electrical, etc), so I could see lots of benefits.
Closing was scheduled for 11/13/2013 (yesterday). The day before around at 9pm I received via email a copy of the HUD and instructions on how to wire the money. The place whereon the closing would take place is about 3 hours from my residence, and the house I was about to buy is about 2:30 hours. Once I received the HUD up front I detected errors (such as the amount I paid in earnest money), but the most outrageous thing (which I then assumed could not possibly be true were the property taxes, especially if you consider that Indiana has a very low property taxes overall compared to other States). It was clearly stated since the very first beginning that the property taxes for the property were US$917 p/ calendar year which actually is high for that area (you easily find home whose taxes are less $300), but since it was a 1 acre home I accepted the higher amount. Nonetheless on the HUD it was showing an outrageous amount of $4500, so I assumed it was another error; but it turned out that it was not. The buyers agent blamed the listing agent and the bank for providing the wrong information, and ultimately the deal feel through. Lots of distress and waste of time, but maybe it was better that way.
Thanks to everybody who chimed in!