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Should I buy this property?

I’m looking to purchase a home in Hawai’i. I have approximately 250k in cash. I found a home in an area that I really like for $1m however the house has settling issues, possible termite damage, and structural damage. There are also other issues with the house like a lot of stairs because it’s on a hillside and only a single stall so you must park tandem. I’m wondering if I can get the house for a discount let’s say 950k then put a minimal down payment and use the rest of the money to rehab the house. Then once I’m done with renovations I’d probably reappraise and then refinance to get rid of PMI. I met with a foundation guy and he said he’d be able to level the house for 20k but suggested I talk to a structural engineer to see if there are any other issues. ARV on homes in the area range from $1.4-2m. Any advice?

submitted by /u/c5r6s
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source https://www.reddit.com/r/RealEstate/comments/120e64y/should_i_buy_this_property/
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