Have someone look over the main roof, carefully. It looks to be a tin/steel roof, which is good in my opinion, but there seem to be issues near the peak.
I agree with the "carpet a bathroom" comments... If the house is that old, there are likely to be hardwood floors under all that carpet. Might be worth investigating.
As to oil heat... It looks to be forced air, and therefore you need to be there with the heat running. If the place smells like diesel fuel, and you can't stand the smell, you are in for, at the very least, a furnace tune up... At the worst, a new furnace.
As for electric, check the house and shop main breakers. The house could get away with a 100 amp service, but that may cause issues if you like high current draw items, like electric heaters. The shops need 100 amps for running machinery, minimum. Make sure you have 220 volts available. Upgrading electrical service is not cheap, so keep that in mind.
Look over the plumbing, if you can. If the water supply lines are iron, you will have trouble with them. It is only a matter of time. (Ended up replacing all the iron pipe in an exgfs house because the stuff was rusting to pieces) Make sure there is a primary shut off, in a location where you can access it, in case bad things happen. Check to see if the pipes run in unheated areas of the house... crawlspace, attic, etc. (My house has the water service coming in from an unheated area, and the pipes all run through the attic... Everytime is freezes, we have to leave the water running, or the service freezes until spring :/ )
If there is a basement, look for water damage. Ask about flooding. Look for sump pumps. If you can look at the house twice, go one day when it is dry, and a second when it is raining.
BTW, this place is only about an hour and a half from me. I might be able to locate you some inexpensive machinery