I recently agreed to purchase a house in a nice location in a town I wanted to live in. The house is 1,090 sq ft ranch on about 1/3 acre. After inspection, I found that the coil in the furnace needs to be replaced, but the furnace is from the 50s and inspector said I should replace the whole thing. The oil tank was belly patched, which isnt sticking, so he also said I should replace the oil tank. The vinyl siding was improperly installed, and is bowing in the rear of the house. I also found some electrical problems that will need to be addressed. Some mold in basement, so some drywall will need to be replaced. Also, little insulation in the attic. I will qualify for the 8000 tax credit, but I was planning on spending that money on remodeling the kitchen and bathroom, which are very outdated. Im basically paying for the location here, as its a very nice neighborhood, but all this sounds costly when I add it up. Im going to ask the sellers to see what they'll pay, but Im wondering if this leaves me with no margin to make any money on the house when I sell it! What do you guys think? Thanks in advance for any help!