One question. How handy are you? Even if the house is a steal, if it is hideous to live in as is and you cannot afford to pay someone to fix it up you better be Bob the Builder. I know people who split up over a remodel, so really think about it. Also, unless I was going to raise food or cattle (another kind of food) I would not have acreage. I have a small lot less than 1/4 acre and yet my water bill is close to 200. a month. Yes, we have a pool. Just think about not having any down time. If I was a very skilled remodeler, then I would take a chance on something I could steal, but the realtors on this board know what they are talking about and a lot of folks think the prices might continue down. Good luck either way and I am serious about people divorcing over remodeling issues. It gets old real fast.