Mold and Broken Water Pipes
I am a newbie from central Illinois with a potential flip property. I would like advice from the more experienced on BP.
What I have is as follows: A 10,400 sq/ft finished above grade SF home built in 1912. It was a Sorority originally that has been converted over to SF. A doctor bought it in 2003 and never did anything with it. I have not been inside yet, I hope to next week. At some point in time the water pipes broke and now there is excessive mold. It has original wood work, a wood fireplace, built-ins, etc. It is in a residential area.
The following is from the Realtor: I sold this 12 years ago and a doctor bought it and never did anything with it. Pipes broke and mold is in there. Could be saved, but others say tear it down and build single family units like zero lot lines. He will sell the house for 79,900. He paid 500,000! Let me know as I have a builder who could build some duplexes for you. Didn't know if you would like to do that as an investment. (from my Realtor)
I am open to the Realtors' suggestion about turning it into a duplex, but not interested in leveling and starting over.
I appreciate any and all feedback! Thanks!