Note: I know that it is currently bleeding but given the price and fixing it up a bit ,may be a good one.

You're going to bleed cash before you make a dime of revenue.

The previous owner was BLEEDING a ridiculous amount on energy loss.

There are still a lot of forclosures on the horizon in those areas and until that bleeding stops the price decline won't stop.Just my 2 cents.

Note: I know that it is currently bleeding but given the price and fixing it up a bit ,may be a good one.

I gotta stop the bleeding.

You will want to have a lender who can do a construction loan with interest only so you can not bleed too much during the first 3-6 months. 

Good points and better educated borrowers Contingent liabilities bleeding over to others involved could be another aspect, I don't know, but I'll just bet the RE brokers here have given standing orders to all agents....no seller finance deals through this office!

That is a town of 500 people that swells for 9 months a year because of tourist.

The tenants will run out of oil and complain the furnace is broken , they will also complain when they have to pay to bleed the oil lines since it ran out of oil ..