I updated all the plumbing fixtures and door knobs and hardware throughout the property.

Just to echo some of the other posters: wires, pipes and fixtures are likely gone, so be prepared for that.

One suggestion I had for them was to start negotiating upgrades to compensate for the delay (colored paint, ceiling fans, light fixtures, etc..). 

It has the same layout as it did in 1978, but new paint, new roof, plumbing fixtures, and appliances. 

You could own the sheet rocking, cabinetry, fixtures, etc.  

The ideal place doesn't need a gut renovation, but does need new fixtures, paint, etc.

Like one of our light fixtures just stayed hot and didn't have a switch connected to it.

Some people thrive on new adventures, for others it is not their cup of tea. 

We installed new Allure flooring and counter top in the kitchen, purchased all new appliances (stove, vent and fridge), installed new toilet, vanity, and Allure flooring in bath, installed ceiling light circuits in bedrooms, installed new ceiling fixtures throughout, replaced all outlets, rewired the garage (what a mess!)

However, the interest rate is something that is negotiable, and the interest rate you pay is going to be heavily affected by your credit score.If you can borrow all you want from the bank, you are in a position to get the seller to agree to a lower interest rate.If the banks wouldn't loan you enough to buy a cup of coffee, you are very likely going to be paying a high interest rate for owner carry.