Our new house was a bank-owned house also. 1920 Fedral style Plantation House. We paid an inspector BIG BUCKS to give us the good, or bad news. In our case, it was a little of both. Good news: NO insects or termits. No sill rot. OLD, OLD solid Beams/Posts. Yep, can't put a nail into them.
The bad news is, no heating system. The house has 9 fireplaces and/or thimbles for solid-fuel stoves.We are busily preparing for a EFM520 HighBoy install later this summer.
This weeks project: Continue upgrading electrical system. Old knob&tube wiring is still in house. Good news is, the previous owner had a Main CB panel, with a 200amp service installed. But it only has 24 CB slots!
Soooo, last week I installed a 100amp sub-panel alongside the main panel. Instantly doubled the number of circuits the house could have.
Also installed another 100amp Subpanel in the "workshop" which used to be a 2400sqft Country store & post office.
I'm in the middle of digging a trench and burying grey conduit between the 2 buildings. Then I'll pull some 2-gauge thru it.
I guess I better take some pics of it.