I'm a licensed broker here in Ma.

I am a licensed realtor in NH and ME but I am coming here to have resources for my own investments and knowledge for myself and my clients. 

And since you are licensed, you can potentially do some sales on the side to increase income and save up for investing.

I would say you need to find the contractors first. 

We hold a license and face criminal penalties . 

The time has come for me to start investing in real estate and before doing so i'm looking to build a strong and dedicated team of partners: agents, lenders, contractors and property managers mainly in the Cleveland area (but also open to markets within a 2-3 hr drive away) that already possess an excellent track record in their line of work and that value long term collaboration.

I have been told by a contractor that the foundation of the building is intact, so it does not need to be torn down but requires a "gut renovation down to the studs."

Scrren PMC's by asking if you will get the material invoices AND the actual invoices from any contractors they hire. - Be prepared to pay for a PMC's time!

Our contractor was a crook.

I would suggest you hire an inspector as well as have a general contractor go out to the property.