Acquisition options - buying TN family home in upcoming area

[Candace Ellison]

Looking to buy my grandmother’s home built in 1930 2-story 2200 sq ft

Sits on close to an acre lot in an area that is being heavily revitalized.

80k purchase price

After research with zoning, I plan to split the lot into 4 and apply for zoning that allows a multi-family up to 4 units per lot.

I am more interested in the potential for the lots verses the home as it’s in extreme disrepair and has structural issues. With the reno estimates I received for $200K I would rather demolish and build new. Who knows what other surprises I’ll find once opening up the walls.

Limited on funds and need ways I can purchase home and fund demo (18k)

Seller financing is not an option. Any thoughts and strategies on how to approach this are welcome.