I'm over in New England looking at a similar type of situation.  19 condos where 18/19 units are owned by the same entity with the 19th being owned by a private owner. 

Local code and building costs are going to be a factor either way.What they need to determine when you add a "Story" to the house is if the foundation can support the extra weight.Here in New England, we have a lot of stone foundations and concern here is that they will shift under the weight, so the solution is to add pilings to support the house and assist the foundation.

I would like to meet other seasoned investors from the New Hampshire/New England area.

Trying to figure out if my Irish citizenship/EU passport will still allow residence/purchase in England and Scotland post-Brexit-- do you have any notion about that?

So... by adding in funds for potential repairs, cap ex, property management...these numbers do not scream "BUY THIS" at me.My philosophy- and others may disagree - is that with older buildings at high New England Prices, considering the costs of repairs, taxes, etc, that a building better be able to pull in a lot of cash to make sense for a buy and hold. 

I finished my apprenticeship ten years ago in England and I now want to pass on as much of what I learnt to people here in the US.There is an estimated shortfall in construction workers of over 15m nation wide, alongside that, I see that when people begin to lose more jobs to automation they will look to re-train and perhaps take a career in construction.I want this program to hang and open many doors for as many people as possible.

Our first house was a live-in fixer that we bought when stationed in England, and we bought a later house in England, on another assignment there. 

@Michael Gayer Jr, as I understand it, you'd either be dealing with the Freeholder directly (but not being offered the Freehold), or maybe the Freeholder has already leased it out (Much like China leased out Hong Kong to England for 99 years), and the Leaseholder is effectively doing a "wrap-around" Lease to whoever they can talk into paying more than they did for the privilege.

Have your friend check out the following podcasts: 206 with Joe England and 103 with Elizebeth Colegrove.

I want to start investing soon, I have about $3,000-4,000 in my back pocket and I am currently saving like crazy so I can move to to New England in about 10 months (I'll drive up to Maine and take you to lunch ).The tricky part is property cost so much more up there than it does in St.