Old Weatherboard House Renovation

Hi,
I've renovated before but have never taken on a large challenge. I currently have my eye on an extremely run down weatherboard cottage. There is clearly a lot of wood rot all over.

My question is: How do I deal with this and what kind of expenses can I expect? This is a real cheapie in a tiny regional town. I'm wanting to complete a full renovation inside and out for $30k if I'm to make enough profit. I can source a second hand kitchen and pick up the bathroom pretty cheap but have no idea what kind of costs I will expect to restore the outside.

Any hints would be greatly appreciated

 

Any photos? There is no way to fix rot, the eaves on my place recently fell down, I thought I would just screw a piece of fibro back up. All the timber was rotten under the eaves and had to be replaced.

I would be wary that if the clad is rotten parts of your frame may be too.

 

You just replace the boards. Costs as much as new boards cost provided you cut out the old ones and nail in the new yourself. Boards are what... $4per m?

Paying someone to do all the work would cost considerably more.