@Irma Hermida To get your company builder credit and to have some kind of project registration/experience for future use, you might want to partner with someone and give/sell a portion of the land for them to develop and they cover the payment --there are investors that invest on appreciation based only--, but perhaps JV with someone is probably a good bet.

Mike,Comfort Masters is a great bet for the North end of the Eastern Shore (Cecil and Kent County). 

But if you aren't, it's risky to bet on appreciation in order to make a property pay off for you. 

I bet they will end up selling for another 30K drop though.

If you are looking at roughly "all-in 50K", a down payment on a college student quad is likely to be a better bet than a cheap SFH.

@Tyler Flagg I have to agree with everyone on the floors your best bet will be to replace them, also a good coat of kiltz on the walls will help eliminate some of the smell.

A local bank is the best bet for a property like this, however they will probably require at least 25% down unless you have an existing solid relationship.  

And it changed regularly.Key cards seem like a good bet.  

Can't speak for SC, I bet you can make money there though with the right contacts.

Does the physical building have anything else that makes it attractive?