I have been in your spot several times in my life and in my case it was by choice. My first house was like yours only older with even more problems and I realized they were there and needed fixed before I bought it. I had high ambitions and believed my skill set was maybe better than it really was at the time but youthful exuberance and feeling I was getting much more for my buck going this way got me into it. To be honest if I didn’t take the DIY route I think I would have spent way more than I could have ever returned on the investment. The trick IMO is to understand what you can and can’t do yourself and then of the things you can’t do what ones could you do within your abilities with some tools, training and education. You are here and asking so that shows me you have some things it takes. To be totally honest I read your first post the other day and didn’t reply having no idea about government loans with low rates.
Your post today gave me thoughts back to that first place of mine and all the scrambling I did for a couple years just keeping it above water. Some of these projects with a huge scale would wear out a team of pros so doing them alone really requires a commitment of putting the house ahead of a lot of other more fun activities. In my case that was easy because I love doing this stuff and the reward is looking at each step and knowing you did that yourself. A house like this should be viewed as many small projects and the advice given of taking them in order is good. Everyone wants to make the inside and outside look good. But as others have said you have to sometimes wait until something below the surface is done.
Having friends and family pitch in is great I have normally been the one doing the helping and find it a bit easier to then ask for some help. Every family is different as are friends but I have found they don’t have the desire to stay with it like the homeowner has, so I tend to use them sparingly when I really need brute manpower.
This is a great introduction thread and a good place to get to know the folks here. After you have a priority break it up into the correct forums and post photos and explain what you think you need and you will get some great help. Look at it as an educational and don’t be afraid to learn some skills. There are no stupid questions here, but be safe. Think everything thru and if it isn’t clear ask again. Get some good books on home wiring, plumbing and framing and do your homework. Even when you hire it done it’s good to know what you are getting.
Good luck, welcome and looking forward to seeing you post.