You can't upgrade it (like with dual pane vinyl instead of single-pane wood sash) and a lot the stuff you need to pull permits for needs to get architectural OK. 

Buying sight unseen is more of a pro move, if you have some way to see the inside like a video walkthrough, have a contractor you have a relationship with walk it, that is one thing.

It may be helpful:I can give you some general info on insuring the property:Here are some things to look for from an Insurance prospective:1.Any in-ground tanks (active or inactive)2.Any Knob & Tube or Aluminum Wiring3.If built before 1978, does the building have Lead Safe certifications4.Any wood stoves or secondary heating units.

He had covered most of them with those cheap $8 mirrors and in some cases he attached a wood piece over the spot and put hooks for towels or whatever on them, so I suspect most of it was prior to those tenants moving in. 

Propane heat as well chimney and wood burning stove.

Propane heat as well chimney and wood burning stove.

This gives a wonderful sight line through the house.

Luckily we had a wood subfloor and a decent crawl space and we were able to easily cut out and replace pipes once we figured out the problem.

There was some wood rot up front which we had the seller replace and waterproof with siding of our own choice.

There was some wood rot up front which we had the seller replace and waterproof with siding of our own choice.