Just had inspection on 100 year old building

[Michael Maniscalco]

Hi everyone !

Just went into contract on a 10 unit building in downtown Carlisle PA. It consists of a commercial on first floor and 9 residential units above. The building is approx. 100 years old. Inspection revealed mechanicals were newer and fine. Electric updated from knob and tube which was still present but not charged . Still had cast iron pipes in basement. The biggest issues were the metal roof leaking and the rear of the building the brick wall had big crack and bulging. Do you think I should just walk from the desk and quit while I’m ahead or have structural contractor come in and quote the work needed on rear wall and basement foundation which also showed cracking . And have roofer quote the roof and see if it can be negotiated .