Convert a Church to Income Property?

[Steve L.]

So there is an old abandoned church that used to own two houses connected on a new parcel. In 2010 and 2011 I ended up buying both of those houses as FNMA foreclosures.

The church is for sale. The owner wants too much still, but I am sure he is open to offers.

It is 7,000 sq ft. With a sanctuary and an attached class room style building. This is very low income area, but on a relatively busy street.

I am looking for creative ideas on what to convert it into to generate profits? Multi-family apartment style housing doesn't work great. Maybe low class hotel or hostel? Commercial might be kinda tough because zoning is mostly residential.

[Michael Pilarski]

Steve L. One of my suggestions was already give (the bar/club). There used to be one here in Nashville that was great for a while. The other would be a mental health supportive living facility. This is for highly independent and high functioning mental health patients. Similar to a half way house but the residents don't leave. Plus you would be providing an important service to the community and probably wouldn't need to change the zoning. There is a huge need for these across the country and some local governments will even subsidize to help with costs. I have a friend that owns one here and TN and she is making bank and is looking to open a second soon.