I have not yet seen the inside to calculate any repairs.

Also do you have the capital to repair in case of an issue?

I am wondering if this can be repaired (even temporarily for a few years) or does it need to be replaced?

I have not yet seen the inside to calculate any repairs.

if you renting this house you might have to put a least 20% down + 5%-6% closing cost,insurance is going to be expensive near the water, check property taxes, vacancy, repair property maintenance, like snow removal, garbage, landscaping,etc

Is it worth pursuing a house that might need $40K in foundation repairs?

I was in contract with someone who after the inspection period wanted 3k in repairs.

First and foremost, the VA will not let you purchase a home in need of extensive repairs.

You add up overdue rent, repairs, garbage removal and cleaning and any other expences you incur.

He's considered a slumlord in these parts because his "policy" is to accept the first person with cash in hand, never make repairs until absolutely necessary, never use a written lease agreement, and he keeps utilities in his name so that he can shut them off if the tenant doesn't pay rent.