Wish me luck - House Looking

We found a house - "2.5" stories (basically, you walk into the middle with the living room/kitchen/dining room - with a porch on the back, upstairs is the bedrooms, and the bottom is the garage/big play room/back yard). It has a huge back yard - perfect for the kids, and plenty big enough to build a pool. There's a park literally across the street with basketball courts and tennis courts and an area to run. The place was built in 2001, and it being sold for $175,000 (worth $260,000).

The only problem is it will take at least $11,000 to make it livable - the kitchen has nothing - no cabinets, stove, nothing. There's almost no carpet (just floor boards), so if we get it, we'll have to sink money into it right away.

Anyway - we're hoping for a good rate on a mortgage plus a construction loan, so we can say "OK - put X in the kitchen, wood floors, build the pool, replace the windows - and we're there".

Oh, and a flat screen for my office. *cough*

Anyway, wish me luck!