A school for sale? What would you do with it?

[Ibrahim Yamini]

I came across a 3 story school that has a gymnasium, a track on the next floor, a wrestling room and all other rooms were obviously classrooms.  The building is 10000 sq and only $250K.  Of course it seems like there would be astronomical rehab costs.  

If you had the resources, what would you turn the building into?   A hotel? An apartment building perhaps?   does anyone have experience rehabbing a building of this size?   How much do you think the rehab cost would be?

[Simon S Marthinsen]

@Ibrahim Yamini I'd turn it into government subsidized senior 55+ housing. Guaranteed rent, low vacancy, low parking requirement, and dirt cheap FHA financing. Fill it up with grandmas and grandpas. They tend to take care of the place.