Abandoned Building Questions - New Investor

[Christian Brown]

My fiancé and I just closed on a duplex in Los Angeles last month. Rehab is almost done and we are getting ready to rent the front unit! Yay!

I noticed that there is an abandoned duplex across the street. All the windows are boarded up and I’ve never seen anyone going in or out.

I checked the assessors website and was able to find the name of the owner (it has only been sold once, in 1967) and that the value of the land + improvements is about $30k.

I am extremely new to investing and would like to know:

1. How can we go about purchasing the building for as little as possible? (I can’t find any contact information for the owner)

2. Are abandoned (and possibly condemned) buildings worth the trouble and work required to fix (based on recent sales, the building could sell for $500k once all fixed up.)

3. How can we go about using OPM for rehab costs?

Thank you in advance for your advice!