They were originally asking $120k, which is very decent, but the property needs $33k in foundation repair alone.

A buddy of mine checked the house out with me - we can't find any leak points, unless it's magically coming in through the foundation, but only at certain times.

@Maurice Selva Got it, for my second property I took on a major rehab (kitchen, baths, roof, foundation, and a lot more) and it was quite the learning experience!

You will learn so much about the process and you can build a foundational understanding of the business before scaling and bringing a property manager on board.

But doesn’t look like any major repairs needed like the roof or foundation.

They tore it down & rebuilt a home on the foundation & sold it for around $1.4 million. 

Contour of the land away from the foundation.

When it came to negotiating we were very firm but fair on the price and had disclosed a foundation report prior to the offer.

Well done @Franklin Ezenwa  Does the basement have foundation windows? 

If it is simply to buy and hopefully sell a few years down the line in the hopes of real estate appreciation then someone will eventually come out a big loser because at some point the roof is going to cave in, the foundation needs repaired, or the electrical needs updated.