Buying the duplex I live in..?

[Shawn Fitzgerald]

Hello BiggerPockets! This is my first post. :) 

The duplex that I am currently living in is for sale. It is in a good section of Cincinnati, OH. There are upstairs and downstairs units (both 2 bedrooms/ 1 bath) 1000 sq. ft each, as well as a fenced in backyard, basement with washer/drier for each unit and a 2 car garage. The house was built in 1900 and therefore has some issues that are to be expected from houses over a century old. The center of the downstairs apartment floor is uneven from the home 'settling', the insulation is not great, and the kitchen and bathroom are pretty out-dated. The owner is asking $104k. Each unit rents out at $700/month. 

What my fiancé and I are considering is buying this duplex and renting out the top apartment since we live in the bottom unit already. The only things holding us back are the potential costs of renovations and the fact that we are pretty broke currently.

Any and all advice is welcome!