I am looking at a house built in 1930. I am very concerned about asbestos and lead paint. the house is a day away from being condemned...it is in BAD shape. I am considering tearing it down to the studs and re-wiring, re-insulating, putting in drywall, paint, etc.

Is this a project I should pass on? I was advised that the electric has the cloth material and is most likely asbestos. It is OLD, and some has been stolen by copper thieves.

Thoughts?? I appreciate all help.