If it is a small town City that issnt aware of such programs by the state, you could bring them the information and present it to them and request the City pursue it for both yours and their benefit. 

If there’s no tax basis remaining in the property, which I presume is the case given it’s 50 years old, this would be a complete wash for basis purposes.That said, if you have stock basis and this is the sole asset of the S-Corp, consider (1) dissolving the S-Corp in the same year and (2) pursuing a cost seg on the property once it’s in your new LLC.An important note is that the value of the distribution to you is the basis you’ll receive in the property.

Hi Nadeem, Out of state BRRRR's has been something I've kept in the back of my mind as a strategy to pursue in the near future..

I think the most ideal is to pursue duplex where we can have a decent yet manageable mortgage to cover if vacant, and be able to analyze best rental strategy where we may be able to rinse and repeat.

Is it worth pursuing lower priced housing and rehabbing for a buy and hold in the pursuit of better cash-flow, or is it just too risky?

There is no way I am going to pursue making a purchase if I have no idea how hard it will be to sell it, what I might earn, and what process to follow.

The contractor does not necessarily get the money, but has to pursue it, and it still allows me to sell the property.Any further advice/thoughts greatly appreciated.

I have the wherewithal to put together an assisted living facilities, but I have no desire to run it therefore I have not pursued that sector.Use NIC as a resource for senior housing development:https://www.nic.org/ 

Once you gain some competence with whatever strategy you pursue you can start accelerating.Best of luck!

As for the financing, it’s always tougher to try to match a deal with a specific lender, rather than find a lender that matches the deal you want to pursue.