There are a whole lot of moving pieces to this problem and I have been trying to look at it methodically. We have been looking for an affordable house and it has been hard to find what we want, but we have realized that there are sometimes homes which could be what we want, but only after we invest a good bit of time and money. We found this one place with a perfect location, but a lot of issues. For example we have gotten a Sacramento hvac contractor to come by and determine what we should do about the heat pump. It seems obvious that trying to fix it is probably not a good idea. As they say you do not want to throw good money after bad, which is what you probably do if you fix something this old. It is likely going to break down again in some different way before long and you are right back where you started out.
Of course that is just one thing. The place has not been kept up. It used to belong to an elderly woman who refused to sell it even after she was no long able to keep it up. It has not been painted in quite some time, although the only parts that need paint are the eaves and the window frames. I am sure that the windows need to be replaced and it would probably make sense to put vinyl siding on the wood parts of the house. That is because that is the absolute most annoying type of painting to do, since you have to move the ladder almost constantly. All of that is stuff that is secondary to the kitchen and the bathrooms. They all have to be done over and really at once.