I fell in love with a house today. I went to see a FSBO in dinkytown next to the U of MN. It is a duplex that has been a single family home lived in by the same family for the last 40 years. The man who owned recently passed away, and the family want to sell to put the money and not the house into the estate. The house needs a MAJOR rehab, (man became a recluse and didn't keep things up) But I can see it's potential and it's majesty and it's story. (See I told you I fell in love). They are putting in a new heating system and maybe plumbing. It has a new roof. But the inside needs everything ripped out including some walls and redone. The main level has two bedrooms and could have a 3rd. and the upstairs has 6. I don't know what it would cost for electrical update and fixup. This is definitely a location,location,location thing and I know it will pay in the long run. They are asking 250k but are willing to do owner finance. I either need some great advice or a good dose of reality. Please advise!!!
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