[jhynesrockmtn]

Okay, now that the girlfriend/fiance thing is cleared up and I am single I've decided to buy a house much closer to work and get back into the real estate mini investment business. I own a shop with an apt. above on a single family buildable lot that rents for $1,000 per month and the house I'm in now should rent for $1,500 or so. I want to hang onto both places and ride out the downturn in the market. I've been a smaller scale landlord in the past and have some money saved. That is primarily how my ex and I built some investments together. Post divorce my net worth is half what it was and I'm not getting any younger.

With rates and prices at such low levels I started looking and found something I think will work for $400k. I'm balancing what I want (smaller, walking distance to stuff, cool) with resale (larger, more family oriented neighborhood, good shape but room to improve) and found a 1941 house 10 or so minutes from work, several blocks from shops, restaurants, bars, etc.

It's got new windows and roof, is bigger at 2,700 sq. ft. than I need, good parking but will need a proper large garage later. It could use new paint, updates, etc. but stuff I can do along the way. It's very clean now and move in ready.

Now, to the inspection process. I don't have any money to lose here on something that could go wrong in a big way. I'm having a really good inspector go through the place with me and having the oil furnace serviced/inspected, tank tested for water, sewer line camera inspected. Anything else I should look at? I'm a bit nervous that the electrical is all or mostly original and pipes the same. The place is 70 freaking years old but looks/feels very solid. I've owned many old homes and learned some hard lessons along the way.

Anything else the brain trust would recommend I do?