Yep. I think you need a descent location most of the times. This house is a good example. It’s a very nice an majestic house. 350sq.m. And it needs saving. But. Giving how big it is there is no way of bringing it back to life without spending more money than potential customers will be willing to pay for it. Pity.
So is it still possible to make money without the location? Hmm. It probably is. If you can buy real cheap, do some very minor work that improves the place and sell it and the life there very passionatly.