I stay away from historical buildings in general for all of the above reasons and more, unless it's a larger scale commercial building with concrete floors and great "bones" that can separate the uses/tenants better.

I don't think it's worth it because it looks like there is not enough meat on the bones.

Just a heads up.So you calculated out you need  $6 million worth of apartments to hit your goal.A commercial loan may require 20% to 30% down in cash, cash reserves, working capital, and closing costs.You will also need earnest money cash.The lender may also require certain repairs to be done Shortly after the loan is made.The lender may also require the Property to be stabilized as far as occupancy percentage is concerned, leaving little on the bone as far as sweat equity.Good Luck!

If you bone the offer and then try to claw back in inspections or renegotiate, you won't be seeing any more deals.On true dumps, I bring my team with me to the viewing and do as much due diligence as possible before even making an offer.

It's kind of like a a guy who gets really excited about something touch really really fast and you can't understand a word he says sometimes you have to slow it down  I've also found that I'm not saying he is but I've also found that in my life I'm 61 years old a lot of hucksters do the same thing  because they know if you show energy and excitement in a presentation more people will sign up then if you're dry as a bone

The cause is a incompetent landlord that does not have the back bone to do the job.

The cabin was circa 1800 and had good bones.

The neighborhood was up-and-coming, and the property itself had solid bones, but it required a vision and some elbow grease.

After 40 yrs of ZERO TURNOVER I think that you can do the right thing here and throw them a bone.

Where there is still meat on the bone so to speak.