House Hunting Again

I went out looking for houses again and learned a valuable lesson. If it was built in the 1920s and has not been updated, run like hell. I saw one yesterday that had a pretty front. Was a white two story with wood siding. Sort of Colonial Style. Looked about like a haunted house really with its tall windows and empty rooms. Fireplaces up and downstairs covered with painted metal sheets. The hardwood floors were at an angle downstairs indicating that the house had settled. The windows were all painted shut with multiple layers of paint sealing them. The kitchen had 1940s style cabinets with metal buttons to press to release the catch. Their shape reminded me of the tailfins on a 1960 Cadillac. Most remarkable was that there was no bathroom downstairs. There was one full bath upstairs with three bedrooms and virtually no closet space but there were some built in shelves. The house would have made a good set for a horror movie. The condition was poor but it was eerily clean inside. The plaster on the walls was falling down and held up by layers of wall paper in some places. Each room had a wall mounted A/C unit with remote control. Very odd that the previous owner would mind adjusting the temperature on the window units yet ventured up a flight of stairs each time to use the bathroom. The asking price was $148,000 and I fear that if I offered $50,000 the offer would be accepted. This house would need at least $200,000 worth of work to make it comparable to what $250,000 would buy for an equal sized house in a similar neighborhood. But after all that work, I seriously doubt there would be any profit leftover.