Pass.
It sounds like unknown costs could put you under. I don't see some compelling reason to buy.
Update!
We took your advice and waited a bit more than a year. Our liquidity position and savings rate are so much stronger now. Our 7.5k offer got accepted.
Once closed, the property will immediately yield an annual 8.94% net return in saved llc rent. Net return, so after taxes, utilities and other recurring expenses.
The next steps are already offering themselves:
- berry farm. Close local friends are interested in using part of the land. The soil composition is apparently perfect for their specialty: cultivation of a highly labour intensive berry very much in demand in the cosmetics market. Free land maintenance and beauty products for the wife doesn't sound too bad!
- renovation. After renovation, the place has potential as a countryside holiday rental. I will explain how we plan to tackle that in a mustachian way in a separate post.
- (potentially) business address rental to trustworthy acquaintances only. I will elaborate and ask for advice in a separate post.