Is this property with it?? My first deal!

[Edgar Vigil]

Hello everyone. 

So i have got my offer accepted on my first investment property! I did the home inspection and..... Many issues came up which follow:

-entire basement supports needs repairs/replacement. By that i mean the 2/4 sills have insect damage, most joists and beams have insect damage, are splitting and need more support. This 3 unit was built in 1850.

-all windows needs replacement due to window sills being rotted out and are 30+ yrs old 

- all 3 water heaters need replacement.

-all exterior doors need work

i plan to negotiate to have seller take care of basement work because i expect it to be a can of worms and I'd rather them pay for it. I'm going to see if seller will split cost of window and doors with me but i doubt it. This property is expect to cash flow 600 /month with a little work to the units. With this being my first property I am very nervous but excited. 

Do you all think it's worth it? Or should I back out and find something younger? I live and plan to invest in MA and finding decent deals is a little tough. 

Thank you all in advance and see you next week!!!

[Greg Scott]

Wow.  This one has some hair on it.

Unless you already have experience dealing with the type of issues you mention, and have a good understanding of the costs to remediate, you are playing with fire.  Get EXPERT advice, if you don't know yourself.  This is a VERY challenging deal, even if it was your tenth deal, it is a challenging deal.

With only knowing what is in your post, I would get out of it, and I've been through some hairy deals.