10 Answers

If you are both strong and in good health, it seems like a great adventure to embark on together. Where will you live while working on your project? It's tough to live "in the mess" while you're working on the next phase of construction.

Rough job, remodeling. Are you sure you want to do this? Where there’s a will, there is a way I guess. Go for it if you are sure………..

If you have the know-how and energy, go for it Terry, good luck.

Are you prepared to put your love for each other to the test? Renovations can either make you or break you. Be prepared for blood, sweat and tears.The outcome may pay off beautifully.

IF it comes about the best of luck terry,i can think of no better man that that i hope will succeed,

If you feel up to it, go for it mate.

My thoughts concur with most of those who caution you and Venny to undertake the adventure only if you (1) have sufficient resources; (2) have the know-how to do most of the work yourselves; (3) have an incredible love that will survive the challenges; (4) can afford it; (5) are in the physical, mental, and emotional fitness needed to get through the demands. 
Wishing you a successful adventure if you go through with it.  The (you name it) Book For Dummies has a series for home remodels, kitchens, bathrooms, etc.  May be a good place to start. You might be able to access some of the info online. 

I have one rental property as my hedge on inflation, thought of more, but glad I kept it to one...  Not going to get rich, but always good to fall back on it when needed.  I am getting to age of thinking of just another few yrs. with it.  When market gets better, we will sell it.  Then either invest that capital in something, or travel some more to spend.  Our kids forbid us from leaving tons of money for them, while we do not enjoy life more.  Good kids, (must have taken after their mom). 

It is always best to have a firm business plan and to do the due diligence on the property's you are speculating. Best of luck on your venture terry and Mrs. Terry.