Rookie question - would an investor look at this deal?

[Jonathan Basden]

Expressing my new found interest in real estate investing to a coworker he informed me the property he is currently renting is for sale off market. They haven't talked to an agent etc.. Details are: House was built in the early 20's Rehabbed in 85 10 acres of land 2 barns, one small one large in comparison The big question I have is this - they have a small house on the property that was built without permits. Would this discourage an investor? Or simply put is the offer going to be smaller due to having to demo an illegal structure? It is my understanding the seller doesn't owe much left on the property and lives out of state. Bonus. I plan on going by tomorrow to take pictures and analyze the house, ask about the septic etc... Drive around the area and see if any other properties have maybe been re-zoned with multiple single family homes. Am I looking at this right?