Lots of Reno and 2 lots for my First Primary Residence with an ADU, worth it?

[Jay R.]

Looking for my first home with the goal of house hacking but I am having trouble finding a home large enough to be willing to give up so much space. Anyways i found ONE and the problem is that it is 90 years old and structurally good but needs HVAC (30 years old), needs intensive complete lawn reno on the .25 acre lot. Also the driveway is part of a separate empty 0.25 acre lot that the seller wants to sell with the property. they're asking for 620k for the lot with property alone and has listed the property in the 850s when they were trying to sell it with the lot together. both lots still need cleared of trees, shrubs, need a fence. Seller is from a multigenerational family of wealth/lawyers/politics. They turned down an 550k offer already but they have priced the house well above market rate as if it has any type of renovations/upgrades and it doesnt. it does have an attached 1 bd 1 bath ADU. And getting the other lot for a deal could work out if i build on it sometime in the future. it is a lot to deal with for the first property but with the low supply i am really looking at the potential for the place. with reno and especially complete lawn reno, it will increase curb appeal majorly. beautiful house thats basically hidden in a forest. theres a tree reaching over the house that maybe ruining the roof, definitely needs cut asap. for reference the other homes in the area are no less than 600k. 615k-1 mill range, most of them have been renovated though so its difficult to compare. Is this the worst deal ever or a unique opportunity no investor would pass on?