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My recommendation is that you speak with a sophisticated lender first. To be honest, I'm concerned that you lack the knowledge to take on such a large endeavor. You may want to consider a home that needs a deep clean, painting, small carpentry jobs and the like, that you can do over time.I agree with the concern about lead paint.
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For Sale: $12,500
For Sale: $189,900
For Sale: $69,900