Historical Home/Duplex investment with subdividing land option

[Keith T.]

Hi Everyone,

I've been listening to the BP podcast and reading these forums for the past 3 months. I've got my ducks in a row and now taking action. 

I found a historical home that has been legally approved as a duplex. It also has a large plot of land that could potentially be subdivided and another home can be built on the half acre.

Does anyone have personal experience they can share on do/don'ts of purchasing a historical home?

Carpets and wood floors have been recently upgraded
Exterior of the home is in okay condition
Radiant Heat System
Cool architectural features on door frames, window frames, etc
Kitchen has not been updated