I'm thinking of purchases a 1945 bungalow in a really hot district of town. A block from a river, walk to downtown, and in a revitalization community. It's 1200 square feet and in a bit of mess. Structurally it looks good but I will get a house inspection.
Thinking about buying it and either gutting it completely or doing a major renovations. Moving interior walls, bathrooms, carpets, hardwood, etc.
Make sure that "revitalization community" doesn't mean a review board that can dictate what you can and can't do to change the exterior aspects of the structure.