Buying 100 year old home!!

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Hi BiggerPockets Community! We could really use your expertise. My wife and I are looking to purchase our 3rd property and want to take something on that needs a little fixing. We plan to live whatever house for about a year or two while we make renovations/upgrades then rent it out/refinance/repeat.  

We have found a beautiful 3/2 in Tampa FL in an up in coming area, but it was originally built in 1925... It has a 5 year old roof, brand new A/C, newly done electrical, and has been modestly remodeled on the inside (Kitchen, painting, bathroom tiles). The floors have been redone, it has a fireplace,  and the patio/front porch could use some work - but everything appears okay from walking around it. It is slightly raised off the ground. We definitely need an inspector but also wanted to pick your brains!

What should we be watching for or looking out for? I feel that the inspection will tell us a lot more about the foundation, plumbing, etc., but does anyone have any experience, helpful insights, or advice they could provide??

Thank you so much!

-Joe Rambow

[Joshua Tessier]

I would add four more lead paint, asbestos, knob and tube wiring and cast iron drains. If your plan is to rent the house have a lead inspection done.  lead laws are tightening in my area and insurance companies are becoming more and more wiser to the risk lead poses to tenants.  Asbestos is expensive but relatively easy to remediate.  I know you said it has been rewired but I would still be checking lights to ensure they are grounded it's easy to skip grounding lights and replace outlets simply to make it look like a bigger job was completed.  Lastly cast iron drains tend to be a ticking time bomb.  If they are older you might want to get them scoped as they can be expensive to replace and when they go theirs no fixing them.