Most purchases leave a lot to be desired in the way of what you want and what you might get. However, a Freddie Mac home sale has some provisions to make repairs when it involves "health and safety" concerns, and usually after inspections have been done.
If you see issues with the target house and they have been disclosed or noticed by the listing agent as being as is, where is, then this house may not suite you on that level. I would say check it all out thoroughly because you will not get too much help and cooperation from the seller or seller's agent after the close. So, if you find something that needs to be fixed, put your requests/conditions in writing (on the contract or addendum) to be given the right consideration. You may be pleasantly surprised. However, don't discount the possibility that someone else might also like the house and buy it "AS-IS" -- the preferred method of sale through such programs.