Most local developers would simply demo and build apartments, but that's boring and as you mentioned a waste of great craftsman ship.You can do any of the options you mentioned above.

There are quite a few areas in Spokane that have nice looking Craftsman or Victorian homes, but many investors wouldn't even walk the sidewalk let alone own property.  

Purchase price: $84,000 Cash invested: $40,000 Historic 1890 Craftsman, Large four bedroom three bath home located in desirable eastside neighborhood at the heart of downtown Kalispell.

Purchase price: $84,000 Cash invested: $40,000 Historic 1890 Craftsman, Large four bedroom three bath home located in desirable eastside neighborhood at the heart of downtown Kalispell.

in your area the 100 year old craftsman houses were built by true carpenters .. there is simply no comparing the two.. not even close.. one thing that does help with proeprty here is you can just put stones in the yard so no yard work.. you dont have thaw freeze  no snow.but you do have blazing sun and heat .. but properties are once done little easier to maintain than in Milwaukee

(Lowers interest) Also saves $500-1000/mo on interest carrying the $100k.Would pre-list houses for sale mid project to attempt to line up buyers for each by the time houses are built.Would attempt to build modern or modern/craftsman and that is the specialty of the builder.

Purchase price: $285,000 Cash invested: $103,000 Sale price: $425,000 Beautiful Craftsman home in the Wood Streets.

As an added touch because my cabinet guy is like me and loves to put on that special touch, there is crown at the top and the exposed sides of the cabinets are recessed-panel to match the craftsman period.To me, this makes sense for a long-term buy-and-hold rental.

Purchase price: $295,251 Cash invested: $90,000 Great 1930s craftsman ready for new life What made you interested in investing in this type of deal?

Purchase price: $134,000,000 Cash invested: $4,000,000 Sale price: $259,900 3105 SF Craftsman Style home built in 1930.