House Listed with Severe Water and Mold Damage. Worth It?

[Brian Caulfield]

Hey guys, there's a house listed on my local market for $223k and described by the realtor as having 'severe water and mold damage, broken pipes, freeze damage and missing carpet/flooring/sheetrock. Seller will not negotiate offers with home sale contingencies.'. The property sold in 2005 for $345k and its a good neighborhood/area. Property tax is $6,500.

Wondering what people's opinions are that have dealt with something like this. How costly can issues like this run up and is this something I should avoid like the plague? (Looking for rental properties). 

For reference its 1,800 sq. ft. 4 bed, 2.5 bath. Unclear in photos, but mold appears to be bad/in multiple areas of the house. 

[Brent Paul]

Prices will vary greatly by region.  Your best bet is to get a professional out to see how much it will cost.  How you describe the damage is likely only part of the extent of damage.  Sometimes you don't find the full scope of damage until you start digging into it.  There could be other things causing the mode besides the broken pipes.  I highly recommend you get someone to look at it before buying it.