1st time house hacker needing advice on old property

[Beth Anderson]

My husband and I are about to dive into real estate investing by house hacking on an FHA loan. We want to do the multi-family route. We live in rural Ohio, and there are only 6 multi's for sale in about a 20 mile radius. All of them are old single family houses that have been converted. The only one that's really an option was built in 1907. It will cashflow about $100/month while we live there, and then about $600 once we move out and can do some updates to one of the other units. The question mark is that there are apparent foundation issues (obvious cracks and lean) and some roof issues. We don't have the capital for big rehab right now, only the needed cosmetic stuff. The property has been on the market for almost a year. The current investor wants to offload it because he has moved to California and it's inconvenient. I'm worried that the capex would kill us and that it will be hard to sell eventually. Any advice appreciated. We really want to get started soon!