Inspection Done - Look for advices on this house

[Anne W.]

Hello BP,

I am here to soliciting your input and thank you!  Looking for a 2nd rental. Inspection done today. I am on the fence. 

- Location: Old neighborhood, up and coming. 6 houses to an elementary school ( 7/10 per Greatschool.org). Within a mile, there's a high school (6/10), sports field, community rec center, swimming pool, police station and fire station. Also with in a mile to major turnpikes. 

- House: 50's brick ranch, builder grade everything. 3 bedroom, 3 bath but only one shower. There's a space for adding a shower. 

- Inspection issues: 1) the cement on the side of the house and back patio. big crack, 3 inches lower than its original place. The settling force tilted the basement window well. to repour the cement and fix the grading, about $20K

2) original insulation(disgusting),  original electrical (need various repair), original plumbing, sewer line needs work (clay and cast iron). New roof. 

3) Finished basement. Lead paint is one basement bedroom. About 400 sqft basement ceiling has asbestos. The entire 1200 sqft basement floor has asbestos but encapsulated. Faux wood paneling in the entire basement and one room at the main level. Not sure what's behind the faux wood. 

4) no dishwasher in the kitchen, no hook-up. 

My concern: the market is crazy, we paid the market price for this one, not a deal. This is "as is", so can't negotiate price for inspection results. I don't think I have a deal, but I don't think I can get a deal in this market, either. The inspector is very familiar with the neighborhood and he said the overall condition of this one is 3.5/5.