Reo Property - WI (Newbie)

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Happened upon this site when looking for more info on REOs. I read a great thread on this site but it was 11 years old!  Have things changed? 

First off, I’m a dreamer. Second, I love looking at houses and am not afraid to stop at an Open House if a house strikes my fancy.  Third, I love old houses esp brick (An old school house would be a dream house to me.) 

So I've been perusing good ol' Zillow and there's an REO property I cannot get out of my head. It's a DISASTER but it looks to have running water. lol

From the listing:

Electric information: Other, Power Company: Xcel Energy

Gas information: Electric, Propane

Sewer information: Private Sewer

Water information: Private

This house is located in Wisconsin and was built in the 1920s. It needs a lot of work and although I dream of doing some of the work myself, I do not have a lot of skills in such areas. Another dream of mine. Ha! But I do know a lot of construction folks and trades people.

Would there be any kind of financing I could do to purchase this or a similar house? I’d have money to put down but am not rich (Thinking 20-30%). Any types of loans that would also include money for repairs/improvements?

My dream would be to just clean up the house so I could live in it while slowly, very slowly, over time work on the house. Heck, if it were summer, I could camp in the yard while work was being done.

I know everyone will say RUN!!! but I believe old houses deserve a second, third, or more chances. They don’t make quality like that anymore and this one certainly deserves to shine.

But I should be more realistic I suppose and quit watching all those home improvement shows (Honestly, Cabin Masters is the only one I watch now that that Florida one is no longer on the air - those folks were NUTS!!!)