Uneven floor question

[Brandyn Whitacre]

I'm looking to purchase a 1,000sf single family home in a C neighborhood for about $22,000. It would rent from $650-$700 which sounds like a good deal, but the floor in the living room is extremely uneven. I walked around on it and it feels solid and i have never worked with any sort of floor leveling compounds. Looking for recommendations on if i should rip it out and replace or use a liquid floor leveling compound. I'm fairly good with my hands and would be doing it myself. Anyone have any input?