Ours didn't even look like a money pit. Very good photos from the estate agent! Unfortunately we fell in love with it, before realising that the roof, boiler, windows, kitchen, bathroom.... etc needed replacing.
We had the roof replaced straight away, insulated the loft and evicted the pigeons from the roof space. They shit on our car daily as revenge.
The boiler was hoped to last a year or two but packed up in January last year, 6 months after moving in. A variety of fixes were attempted, but it had to be replaced.
We discovered another 15 foot of garden behind the brambles, including a shed with a tree growing through it and a resident family of foxes who are resistant to moving!
Next job is the windows, after which we probably need to borrow more on the mortgage for the bathroom and kitchen. The kitchen isn't horrendous but the floor is crumbling away under the vinyl sheet flooring, and everything had to come out in order to level it. The current fitted kitchen is tired and poor quality, and the laminate worktop is damaged, so it's not really worthwhile putting it back in.
There is a chimney breast removed on the ground floor but not the first floor, which may or may not be properly supported. There's no signs of movement but I should probably get it shored up properly.
We've only fully decorated one room - the master bedroom. When I say decorated, wallpaper was stripped, cast iron fireplace stripped of 20 layers of bright pink paint(!), we replaced the wiring, chased in the light switches, added more sockets, moved the ceiling light (there were two, and they were very wonky), the coving turned out to be polystyrene and the picture rail was glued on so both were replaced, new plaster ceiling rose (well, two new ceiling roses, we cracked the first one), shitloads of filler on walls and ceiling, stripped the skirting and doorframe, replaced the door, lined the walls and painted, and laid new flooring. I envy people who can redecorate by just cracking open a tin of paint 
Basically, everything has taken longer and cost more than expected, but I love our house.