This is classic fraud as defined by the SEC, and why you need an attorney.

Classic leverage. 

In general, I think buyers looking to re-purpose the home will not want to evict such a vulnerable segment of population.

Religious artifacts have been removed and the former owner institution allows it to be re-purposed obviously.I know some people transform fire stations or libraries or churches into their own home but they are usually driven by passion more than financial wisdom (no offense).

It's a small lot (a little less than a half acre) and my idea was to just put up a steel building/garage and use to store classic and/or restored vehicles in.  

I would suggest attending the zoning meetings where the property is located and identify a active zoning attorney to retain and consult on your re-purpose of the building.

https://www.realestateconsulting.com/8-big-housing...TLDR; Prime real estate will be unlocked for new home construction (parking lots, auto dealerships, gas stations).Outlying drive-until-you-qualify housing markets will eventually reemerge once the majority of core infill markets have repurposed their prime real estate.Urban employment should continue rising as prime real estate is repurposed for housing, allowing more people to live closer to city centers.Density will increase, with the days of wide streets, massive driveways, and two-/three-car garages a thing of the past.Construction costs will decline as transportation costs plummet for moving building products from manufacturing facilities/warehouses to new home construction sites.Fewer home sales will occur, as the elderly will be able to stay in their existing home long after losing their driving rights.Assisted-living facility demand will be less than most people expect.Repair and remodeling will flourish due to seniors remodeling their homes to age in place.

There are the classic books, almost like an unwritten list that all real estate agents read.

If you can find good deals in these areas with the classic metrics then jump on it.However, I personally would recommend you look at areas that you have connections: your hometown, your current town, where your brother/sister live, where you went to college, etc....It automatically gives you an advantage because it is familiar and even better you may have connections or people who can provide references for Real Estate Agents, Lenders, Handymen, etc...Regardless, congrats on taking the first steps and I wish you all the best!

The classic small multifamily (2-4 units) house hack is perfect for someone with a family and is the simplest to manage.