Weedy Acres (I'm not sure how frequently she still reads this forum) and her husband purchased a similar-sized home a couple years back as a temporary place to live, and also as a fix-n-flip. However, theirs is on a very small lot in a town in southern Illinois, and required a lot more fixing (they've gutted and redone the bathroom and bedroom and had to fix some foundation issues). They have since discovered MMM, and are considering staying in the home longer-term. They love that their utility bills (now that they've upgraded a few things) are tiny, and their property taxes are, I think, $640/year.
You'll have to put some work into it. Here's a list of things you'll need to look into (and possibly fix) off the top of my head:
1) type/condition of the windows
2) insulation in walls and attic
3) condition of HVAC. As others have stated, if it's original, you'll probably want to replace it with something more modern & efficient
4) electrical. It could be nothing more than adding a few outlets, but it could be as serious as running new electrical for the entire house. Ok, given the size of the house, that wouldn't actually be *that* bad, especially if you can do it yourself.
5) plumbing. Is it original? Then it will need work. Copper's supposed to be good for ...50 years, I think? Again, given the size of the house, it might not be a big issue. I don't know anything about septic, so I can't opine on that.
6) the room which connects the house to the garage looks sketchy. As if it was a breezeway that someone enclosed. If that's true, you'll need to tear it out, put in proper footings, and rebuild it. Make sure it was built properly, especially the foundation. Weedy Acres has a similar room that was built on footings for a *deck*. The garage itself looks fantastic--they even put in the drywall for fire resistance, which gives me a glimmer of hope for that in-between room.
7) the deck looks like it needs some work.
8) if you don't care about the barn, tear it down and sell the wood. I've heard that lumber recovered from old barns can fetch a really good price. Then you can use the foundation for something better. If you want. Or not.