It's a historic building and the location is such that everyone in town drives by this church on a daily basis and I think the community would be supportive of doing something with the church due to it's location and it's a shame to see it sitting empty and not in use which is what has happened these past couple of years before I bought it.The building is 4 or 5 ft about ground.  

The low end condos tend not to appreciate much historically.

I'll be buying at historical high prices for the condos history and I feel the markets in a bubble and I won't be counting on appreciation, more likely to depreciate in the near future if the bubble bursts.2.)

I currently own 4 buildings 16 units in the historical Kalamazoo area.We actually are doing a full renovation on our Stuart property and let me tell you contractors are hard to come by.

Thanks for the advice.Still didn't open yet a US account because I'm investing with a partner (also lives abroad), and after consulting with a lawyer and CPA it makes sense that my partner and I form an LLC for the property, which means the account I open won't be under my name personally (but we will open an account in the States).I'm not sure how much I like the idea of moving money through a British bank, doesn't it raise costs adding another mediator in the process?

That's for an 950 sf addition (new bathroom) and gut / remodel existing home of about 850sf, SF home, historic district in the City of Phoenix.  

With rates historically low, it was a no-brainer for me to leverage.  

As others have mentioned: in your situation it sounds like you should be working with a commercial bank.There are times, if all the other aspects of the deal make sense, you can use a hybrid of a historical and proforma P&L if there are <12 months rental information.

Hypothetically, as a builder / developer, would you pay a slight premium for property that has the federal historic tax credit of 20%, a state historic tax credit of 25% and a city empty building tax credit of 25% - capped at $500,000, as well as a dense mixed use approved PUD, and a tentative $5 mil TIF district for the site?

Historically, every time we see low unemployment it is followed by a recessionNow we hit a 17 year low for unemployment rate, so what does that mean?