Everything in it was ancient, but in perfect working order.

Asbestos, lead paint, ancient wirings and electrical box, there is plenty that would disqualify it for a mortgage.

Located in a great neighborhood, formal DR, family room, built-in shelving, laundry closet & lrg eat-in kitchen w/ plenty of cabinet space.The home was once a rental, then individual family purchased it, they were foreclosed on, and the home sat empty for over 1 year.I have made some modifications to the home since I purchased with the help of family:  installed 2 new ceiling fans in the bedrooms, replaced 2 interior door knobs, replaced all outlets with 3 prong grounded, rewired the living room and hung double ceiling fans as there was not lighting other than lamp plugged into outlet, painted the dining room and kitchen, installed a dish washer, some small landscaping projects around the home, had ancient HVAC system serviced,  but much more needs to be done.  

Jassem, when I got my unit installed, the installer told me that if I call him and tell him the unit is not working right, and he finds that the filter is ancient and used up, then I won't be covered by the warranty, so I need to be extra careful with that.  

Nor is it a ancient single wide.  

We are thrilled to be able to provide our current tenants with renovated + safe access to their units, update their interiors, address some ancient HVAC systems and bring their roofs up to standard.

CA that were on ancient landslides you could see were the whole hillside sluffed off but that was say 5,000 years ago.the mother of all though has to be Hilo and all the subdivisions lots built on active volcanic flows  we saw what happens to those. there are probably 20,000 lots that were created there in the 50s and 60s.. you could buy them for 2 to 10k.. 

You might also find that the existing line is super ancient pipe, and you might have to replace at least part of it so you can tie in to it.Good luck!  

Great ancient book.

I bought my personal residence and then found out later that their were old deed restrictions and ancient HOA just like you stated.