Condos where I am at ( in central TX) are going for super cheap right now - around the 90-120k mark.

That leaves the low property tax, no income tax, cheap utilities, no weather related expenses, tile roofed, stucco sided, median property age under 20 years, cheap insurance and solid foundations Las Vegas properties with lots of entertainment, very cheap flights and a good quality of life. 

Few inspectors, regardless of how talented they may be, have building experience.This project you're embarking on sounds like $100k, not $40k....... even a cheap kitchen will run $25k......

If it's cheap, I would pay.

I'm in the DMV region and willing to travel through Virginia and Maryland.

Keeping costs sensible can be done without being cheap. 

There is usually a warranty (tenants break things) and free delivery, installation and haul away of the old appliance. new appliances are so cheap these days that I don't buy a used one -- especially not from craigslist where it could break shortly after purchase (no reviews on who is selling it) and then it's a hefty fee to get someone out to fix it. repairman are expensive these days whereas appliacnes are becoming more affordable.

Putting up cheap paneling (and for some reason it's always DARK paneling) to cover plaster walls since these walls tend to crack easily with any nails is something I've noticed in many of the old houses around here.And yes, there are typically lots of surprises when dealing with an old house.  

I am 71-years old, was born in Massachusetts and worked in multiple properties built in the early 1900's and asbestos was used in the early 1900's forpotable hot water pipessteam pipes for radiatorssmall and large coal and oil burning boilerswarm air heat ducts were loaded with asbestos as shown in the images belowattic insulation as shown in the image belowelectrical wiring as shown in the image belowinside and outside floor furnaces and gravity furnaces as shown in the image belowfloor tiles and linoleum is loaded with asbestosdrywall and drywall mud is loaded with asbestos and maybe that work was done after the home was builtroofing material is loaded with asbestosI've been a licensed asbestos abatement contractor for more than 30 years, have been in the construction business for more than 48 years and I've been to more then thirty 10 to 40-hourtraining classes for asbestos abatement.Cheap people, cheap homeowners and pathetically sick sick people tell tell their workers there is no need to be concerned about asbestos.

I'm not interested in cheap, and the environment is fine.