It could still have knob & tube and ancient plumbing. 

We just purchased a rental property this last summer with an ancient HVAC system.

OK BP. I'd like your input in this matter.  I've been looking for a foreclosure to flip in Chicago, Currently, my agent and I are attempting to see a foreclosure right now. I'm noticing that whenever it is a really go...

Also I grew up in a house built in the 1800's, so I swore off ancient property long before I could swing a hammer. 

Yes, the regular season is ancient history now, however the Mavs are 10 and 1 in the playoffs since dropping 2 to the Blazers.

Meanwhile she is paying a lot of money in utilities for an ancient heating and cooling system, the floors in her cabinets have nearly rotted out, and the shed outside has what appears to be only particle board for siding.  

One just needs to go to Rome and see where modern Rome is built on top of ancient Rome.

If someone offered to sell you a car for $500, you would (hopefully) rightly wonder just what kind of ancient and horrible junk it was; the same is true of land costs that sound far, far, far too good to be true in a place where one would expect it to cost at least 10 times that.Also, have you included earthquake insurance in your estimates? 

In my area, homes that were built before 2000 are considered ancient, therefore, repair costs differ from one area to the next.

Back then slavery was common and not forced like it was during modern times.You volunteer as a slave back then and when your time as a slave was up you were released from your duties and went on with your business.So slavery back during ancient times was beneficial and common.Now something too think about.