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Here's a deal for you...

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How much would you pay for a fixer-upper in a nice city? What if the exterior was absolutely stunning and the inside needed some serious work? $100,000? $50,000? How about $1? Yes, someone bought this for $1:

 Wow.

Of course, the new owners’ total outlay wasn’t really $1. The inside needed some work to say the least! The owners had to balance restoring a historic property and preserving its unique features with modernizing an outdated mansion. The kicker? They had one year to get it done. In return for the $1 price, the owners needed to provide a speedy renovation.

And now this mansion turned school is available for you to lay your head! It’s a B&B and open for business: www.jamesleehouse.com. Judging from the website, we would say the owners did a fantastic renovation job, preserving historic charm and bringing it into the modern age.

So would $1 be a good price for you if you knew there was significant work to be done? Or would you rather pay more for a historic property that was already renovated?

Image courtesy of House Beautiful