I would bet that once you get an attorney involved they will lose interest when they learn the property doesn’t have clear title. 

I bet you can do better elsewhere:) Happy investing!

Even the 1% rule / test / whatever is a dream.Your best bet is to throw out all rules of thumb like that and learn what the averages and norms are for the market and price range you're looking in.

If this statement is true buy the sucker.

After a few hours I decided that the USDA Aggricultural loan would be our best bet.

I'm not sure if you're interested in joining, but there are a few around town that seem to be the best bets.

Never been there AH  you will no doubt love it or at least your wife will I bet... go by  7  New st.. the horse carriages go by there That's one of my new builds if the contractor is there his name Is Troy and tell him your a friend of mine and he will show you through..Also if you google  8 Woodal  go check that little street out I built all three of the new builds there .. and they are pretty cool but it gives you the idea of how things were 200 years ago with these tiny tiny streets and then you can appreciate how difficult these builds are with no room to move..  

At this point the best bet may be to sell and hope that he just doesn’t have to come to the closing table with any money.

When you hit your point of critical mass institute your original strategy and pay those suckers off and enjoy retirement.  

I'm betting there are more repairs than I think(2).Good opinion, I agree.