Did you include your right to approval of all available inspections in your contingencies? Many people (me included) would include electrical, plumbing and sewer, home inspection, police reports of home AND neighborhood, (criminal activity, cops called to neighborhood,sexual predator information, schools information, hoa/coa,roof, termite, flooding--look back many years--mold, odors from home, neighbors, neighborhood, the local plant, health issues, etc. I would even include night time activity, noise, lights, nuicances, attractive or otherwise. I would not want to be near a pool, (public OR private, because of chlorine gas and odors, and noise) playground, or school, high tension lines, railroad, etc...
As to the health issues, there is a really nice neighborhood in a quiet area near a hospital. It was discovered that that particular neighborhood had a high incidence of serious health problems including cancers, It was discovered they most likely were caused by or exacerbated by the fumes and chemicals carried to it by breezes when that hospital burned their hazardous waste.
Anyway, if you included approval of all inspections, and you perform all inspections, (park in the neighborhood several nights, including weekend days and nights, to observe what happens--and keep a record of it) and you find even one thing that really does not meet with your approval, re-read your contract, talk with an attorney if needed, and do what is right for you.
Were you going to use it as your residence or a rental? Would it work as that? If a rental, do you get a strong enough positive cash flow? And do you get appropriate answers to other rental property questions. ( or residential property questions?)
Hope this helps. I am not an attorney, this is not to be considered legal advice, for it is not.