The location of this house on the lake is truly amazing and the views are really awesome. That is a huge, huge component here. Additionally, the house is very 'homey' and well stocked with clearly a leave a little, take a little philosophy. In the event you forgot something or need something, chances are they'll have it. The top floor is quiet and comfortable and again, lake cabin living.
That said, two major issues. a) please be very very clear that the '4th bedroom' in the basement is not really a 4th bedroom. Its a cement basement with beds in it that is ONLY ACCESSED through an outside entrance. Not directly through steps down in the house. The description breezes by this and I admittedly totally missed it, but it made for a problem with small kids. Additionally, the basement needs help. It is very musty, needs a dehumidifier and some updates on beds, etc. If you have teenagers that you trust to stay down there and not sneak out or get scared great - its perfect. But if you're thinking of a comfy room for grandma or little toddlers - probably not.
b) my only other note is just that generally the place is in need of some TLC. Deck needs some repair, painting, hole sin screens, etc. Interior there's signs all over the place about things that don't work and how to handle them, when they really should probably just be replaced. Master bed was ok, but other beds may need another look. Not awful and generally ok, but just 'lake cabin livin', so keep that in mind.
Overall, if the owners would do some upkeep and perhaps some updates and upgrades in general this place has a LOT of potential.