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If you don't mind me asking, Why did you buy this place? I see your posts in several of these forums and see that the front door is out, the foundation is failing, the floor joists are doubtfull and something about siding and now the total roof needs to be redone.
I'm wondering if there is anything good and salvageable about this house.
I do whole house reno's and it is best if you find a reputable contractor or designer/architect to help you, even as a one time consultant. Every system in a hoiuse affects all the other systems similar to the way that all the paarts of your body work together. You need a total plan before you start doing anything. I cannot count how many tiomes that I am called in to do something or a part of a process and I need to tear apart something they have just done to their house to attack my project, or they fail to tell me of future plans and I could have saved them tons of money by incorporating parts of it into the present one.
So sit down and plan with help and prioritize.
Ever see the movie "Money Pit"?
Since you have decent equity, the best thing would be to spruce up the presentaion things and sell to gain the equity, then buy up to a house that fits your new family, IMO tho that gets complicated by being off work - to qualify for the new loan.
I do remodel and restoration and i often see folks get in over their heads by spending more money to fix and opld one than it would cost to build to suit their needs.
If you will be spending a lot of time on this project, you might find faster, better advice here...