Here it would be 25% down ($275k)A balance of $825k at 7% (or higher) $5,490/mo, figure $250/mo insurance, $500/mo property taxes $6,250/mo. 

I personally own/live in a historic home and I can promise you this: it will cost you more - a lot more - to renovate and maintain the property. 

is it priced at retail despite the issues, or is it priced to move?

I'm going to give a verbal warning followed up with a text message describing what was talked about so we have records if something bad happens. 

Repairs: Add a pool ($77.7K).

If he did that today, he would be a YouTube star selling investment courses to suckers.If you borrow against your equity at 6.5% and then get a mortgage at 6.5%, you will finance the entire purchase price at 6.5%.

With TOU service you charge it at night for 5-7c/kw and use it during the day to arbitrage the price difference. 

For example I have a 4 unit in Rogers Park chicago its gone from working class with some gangs to now houses over a million being built and rents up 50% to a few years ago, same happening in Portage Park and Albany Park. 

I own about 40 props in Illinois and N Indiana and have been working on taking the next step... starting a property management company.

Then you can do a 1031 exchange or sell it at a lower tax rate.