From an anglers prospective, I think Cumberland is a great lake and you'd easily adapt to it's patterns for all fish species. I know if you tried it you'd love top water fishing for surface feeding Stripers. Their fight makes a bass look like a bluegill.

From a real estate standpoint, I offer this, and hope you view it impartial advice, with no implications. A real estate transaction with a firend can be rewarding, or a disaster that ends in a bad buy and a lost friend. Again, accept this recognizing I don't know how familiar you are with the property, and that's it's offered to help a fellow angler.

My thoughts are before you make any form of offer, require the results of a radon test, a lead based paint test, a thorough property inspection by a licensed inspector, and ask the potential seller to provide you a written property disclosure report. http://krec.ky.gov/legal/Legal%20For...racts/M105.pdf
While this form is not required by a seller on a "sale by owner transaction", it is a good thing to ask for as a seller who has well maintained his property will be glad to make this effort. In the event you sense reluctance....consider that carefully. And finally, remember that in a "for sale by owner trasnaction", the burden of determining if the home is priced fairly in accordance with real market value in that area falls completely on the buyer. You may want to check the PVA office in the local area and request a copy of the propery value assessment and taxes on the property for the current year. Even though this is a sale from a friend, you might want to entertain a realtor to act on your behalf as a buyers agent, as they can steer you through any potential areas of concern. A realtor can ask the question that might otherwise cause friction between you and a friend.

Again, I offer this only as real estate advice, and I fully acknowledge and respect your knowledge of your friend, your relationship with your friend, and knowledge of the property.

However things turn out, may your roof never leak and your lines stay tight.