Originally Posted by Connemara
Thanks for the advice. The plumbing and electrical are two things I'm pretty concerned about due to the age of the home (built 1940). Could be hard to know what has been upgraded until an inspection is done.
I'm a little anxious in general because it's a foreclosure.
Electric should be pretty easy - pull off some cover plates and see what kind of wiring there is. If there's black, white and ground and a Romex jacket, you should be golden. Plumbing is the similar, just look in the basement/crawlspace and it'll be obvious.
2 more things - there may be asbestos. It was widely used in popcorn ceilings, joint compound, insulation for ducting, linoleum and sometimes even roofing or siding. Things get incredibly expensive when you have to call in the guys in white suits.
Lead paint is also very likely, especially in the interior and exterior trim. If there is lead, it won't kill you but make sure you understand lead safe work practices.