Moldings are custom made as are doors and windows, just finding the wood was an issue, tiger oak isn't at a box store.Beware too, that politics will be involved in historic rehab projects, inspectors, historic committees, city council, having tax credit programs approved and the community can all influence what must be done.My SO's sister and her husband are the largest historic non-profit in Cali doing historic preservation work.

I thought it was a pretty good discussion, presenting all points of view of those concerned with preserving the history and developing the future on the east side.

The key is to:a) buy at a price where you will be cash flow positive and therefore able to weather any storms (RE market, or personal ones for that matter) - this is preserving your capital, andb) buy in a quality location where you are well positioned for future appreciation if and when it happens - this is growing your capital. 

We run across properties all the time, b/c I also own a small Property Preservation company.Most folks don't know this.. but Preservation companies are used by the banks, regionals, nationals, realtors to clean, maintain, foreclosed, pre foreclosed and REO properties.

A Mortgagee has a greater interest in a foreclosure sale as it preserves their rights to deficiency.  

Part of his deal with the city is that he will give away the historic home he owns on the adjacent property so that it can be moved and preserved.

Or some type of agent dealing with other property preservation ideas like mowing lawns or taking steps to avoid municipal liens, etc.

I am not real familiar with your market but I will say there are some real differences in the multifamily market nationally.Places like Austin, Denver and So Cal are really tough to do any thing other than just preserve capital.

I have already invested $7,200 in negative cash flow over the previous 2 years.To refi, I need to be at 80%LTV meaning I need to put an additional $15,200 downNow, total invested is $22,400.With the same financing assumptions as above, new loan is$60,800 @7%=$662/mo PITI which means $288/mo CFIn this scenario where value of the house drops 24% in the two years I am paying no interest, after 5 years 77% of total investment has been returned and after 10 years 123%The appeal to me of this deal is that I am essentially able to finance my down payment INTEREST FREE, so I am able to preserve my current capital for other deals, and if bad things happen over the two year period, I eventually put down the money I was hoping to avoid having to put down, but I don't have to put it down all at once, and still receive similar returns.It may also help to know that I am not and am not trying to become a full time investor, relying on current investment cash flow.

I'm not exactly sure why he didn't look into it further, because he was there when we voted and has been big on preserving the quality of the lake.