In thinking about the repairs also remember that as you work on systems they will likely need to be brought up to code and if the remodeling is extensive enough you may have to bring major parts of the entire house up to the current code. Unless they have recently been updated I would also probably budget for replacing the entire electric and plumbing systems possibly including the water and sewer lines. There may also be issues with asbestos and lead paint, which may increase the remodeling costs.Unless there is something especially nice about the house it might be a teardown where it is better to put a new building on the lot since it is apparently a larger than typical lot for the area. Unfortunately it does not sound like it is priced as a teardown.Greg
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