Thanks everyone. We should be able to do most of the work ourselves as Dh has years of construction expereince and we put in 3 bedrooms and a bathroom in our house in NH, doing 95% of the work ourselves.
My biggest worry is foundation, if that's shot it can really get pricey to fix. I haven't been inside the house and for all I know the wiring and stuff has had some updating, but I am not betting on it.
Ideally we would want to live there and work, but it will depend on how much work needs to be done. I do think the house is overpriced for the condition it's in, even with the land ( 55 acres) so it will have to depend on if they came down some and exactly how much work would need to be done.
Time will tell. We need to keep paying down our debt and see what happens in a year. It will probably get sold next week LOL.