100+ year old properties

[Jon Coleman]

I am going to look at a couple properties in the Riverwest/Harambee neighborhoods this week that were built prior to 1900.  It seems that there is no shortage of properties over 100 years old in the Milwaukee area and I'm interested to know what experiences BP members have had with them.

Where do you tend to have the biggest issues with properties this old (foundation, plumbing, electrical, etc.)? For CapEx, do you use any rough estimates/formulas or do you go into detail assessing the condition/cost of all major parts of the property? Thanks!