House inspection reports numerous problems, should I continue?
I recently made an offer on a house that is listed for ~$65K, and the house is 90 years old. The inspection report came back with 24 issues under the actions needed list and it made me wonder if this something I should be concerned about. The biggest problems are outdated electrical wiring (no ground), mold in basement, home water pressure of 120 PSI, improper drafting of flue gases, and the list goes on.
When you are looking at house inspections, what are some things you find that make you turn away from the investment?
In terms of rent, I could get about $700 monthly (2 bed, 1 bath). To make this deal appealing, what would be realistic offer for this house?