It is nice but sub-optimal. 

I'm a physician and so exposed to more liability than the average corporate job.

Smaller, outdated homes down the street have sold for significantly higher than what I estimate the total cost of the job would be.  

You are comfortable (not running from a job you hate, not recently  laid off, etc) so  nothing on fire here.That said, if you guys have the energy and drive, he.sounds well positioned to fix a fixer to hold as a rental or rehab/reconfigure a nice house for rental or flip.  

Are they trying to maximize cash flow to be able to quit their job or retire?

I didn't get the job and the state turned more and more blue, so I decided against it.

And this was in a nice gated community in Miami!  

Anyone want to partner up for a nice return on your capital secured by real estate?

Wood floors look nice but are expensive to refinish (probably 3 times what laminate would cost)

Shortly after closing the deal the company I worked for changed my job and moved me abroad.