Property under contract with possible foundation issue

[Pat West]

Hello,

I am posting in the hope of getting some advice/opinions about an issue that I found with a property that I currently have under contract.

This property is a 3-plex that was built around 1890. The foundation is brick and has a cement overlay. Upon inspecting the house I noticed that there were some bricks coming loose in 2 of the corners of the house. (See pictures)

I also noticed that In one corner wall of the basement it looks like there were some new beams and a support added due to the brick wall breaking away,

but the wall looks like it is overall very stable. All of the doors and windows In the house open and close just fine.

Based on the pictures and my explanation would you guys walk away from the property? It has the potential to cash flow $1200 a month. I hate to walk away from that opportunity but I would also hate to be stuck with a nightmare house.

Any advice or opinions you guys could give would be greatly appreciated.

[Pat West]

Josh, 

Yes, all the floors are pretty level. There is a small slope in the living room of the unit that happens to be right under the spot where the new support beam was put in.