Re: Major issue in the home inspection report?
I agree with Tim, way too many big, expensive things that need to be addressed.
Garage - It will probably be cheaper to tear it down and start anew. One problem with that is, many jurisdictions will allow the repair of a building but won't allow building a new one in the same place for various reasons, such as set back from the property line or maximum plot fill restrictions (only so much dirt can be covered by structures ). If you purchase this property, know what your options are BEFORE you start demolition.
The house issues. It sounds like there are significant problems that will be costly. While I think Jack's assessment may be a bit high, you're in for a major bite to your wallet none-the-less. You have to keep in mind the cost of repairs versus the real value of the property in prime condition. You never want to spend more than the property is worth, particularly if this is an investment property rather than a primary residence, but the same holds true for a primary home.
I suffer from CDO ... Its like OCD, but in alphabetical order, LIKE IT SHOULD BE!!!