Ask them a lot of questions about their loan programs and the costs associated.2.

In reality it is costing you more. 

First off DO NOT slash prices yet!

Not knowing the configuration of the church the appraisal may be less than your purchase cost plus rehab costs.  

Tailor these amounts to the significance of the task; for example:Roofer: $1,000/day (critical to weatherproof the site).Painter or garage door installer: $100–$200/day.Contract Value & Payment Terms:Agreed payment amount (lump sum or itemized costs).Breakdown of payment terms:Deposits.Progress draws.Retainage (if applicable).Scope of Work:Be as detailed as possible.

Of course you have to factor in realtor and closing costs on top.

Yes, you personally aren't living there, but with high crime comes unqualified tenants and high maintenance costs (stolen materials, broken windows, etc.).

Can try to reposition to Class B, but neighborhood may impede these efforts.Vacancy Est: Historically 10%, but 15-20% should be used to also cover tenant nonpayment, eviction costs & damages.Tenant Pool: majority will have FICO scores of 560-620 (approaching 22% probability of default), many blemishes, but should have no evictions in last 2 years.

In US tax law, the depreciable lifespan of an asset is defined by its MACRS classification which stands for “Modified Accelerated Cost Recovery System.”Under MACRS, depreciable assets are assigned to different classes, with each class having a specific recovery period.

In other words, you will incur the cost of demolition just to get the raw land.