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This kind of experience will be good for you FM. Now you know what to look out for and will have an 'eye' for it. This can save you a lot of money in future, on not paying for building reports on properties that you can now "see" are not worth investigating further. Thanks for posting the pics.

firstmillion, I'm not really having a go at you. On the face of it - it does look attractive - granted. But usually the people that do well with these kinds of properties know what is required (aka the Reno Kings etc). If you have to get some-one to look at it - then it probably isn't for you...

Don't waste your (or his) time No it isn't. It is a property to be avoided. Run away now. Use your energies on something that will yield a result IMO, rather than obsessing on this "bargain".