100 Yr Old Homes- Worth the Hassle?

[Tim Kaminski]

Hello,

Looking to owner occupy a 3-4 unit multifamily and a lot of the homes I am looking at are all 90-100 year old.  Plenty are wood frame and being that I'm in Tampa, Fl, I am hesitant (Hurricanes/termites).  Some say, "Oh if they are still standing, then that shows that they are durable".  I am more looking at it as that most of the others have been torn down or destroyed (hurricanes, structural damage, etc.) and these are the ones that happen to be left.  It just happens that these are the properties that I can mostly afford as the market down here is very hot.

This is my first property that I plan on using as a Buy and Hold and I don't want to buy something that will put me in a hole for years to come.  

What is your experience with older homes? 

Do you recommend for/against? 

What year/decade do you draw the line on investment purposes?

Thanks!