97 year old house worth it or not?

[Christine Taylor]

Hello BP Investers,

I have a question concerning a property that was on the market last year. In my mind, without even seeing the inside; I was thinking this might be a good purchase. Already taking into account the age of the house, it would probably need new plumbing and electrical, basically a total remodel. However the asking price was only $78,000. It is a 5 br, 2 bath home located within walking distance of our local hospital. though it is predominately residential there are many different doctor's offices for various practices in the area. The property is zoned limited office. Permitted uses: Bed & Breakfast, Medical Office, Office in Home, and duplex & SFH. It has 2200 sq. ft. and is a two story house.

So those of you with more experience than I have what would you have done with this home if you found it on the market?