I am focusing on building/ restoring my credit this year and putting my money away.

Also with any of my tenants with low credit scores, I work with a credit restoration company that builds the tenants credit scores up while in the house and they add the rental history to the credit report as well. 

You could give Procare Restoration services a call.

nice, sounds like a great deal and always cool to rejuvenate an older property like this and restore it to former glory!

Also opens the door for buying and storing sale items or Restore purchases which probably saves us on average 1000-2000 per BRRR deal. 

Make sure you add the taxes, insurance and a maintenance cost factor to the total number they would pay.Next, does the lease require them to restore the premises to white box or only broom clean?

On my fire restoration of $95k, We agreed (regardless and at MY suggestion) on a 10% deposit and progress payments of 30/30/30% and the last one to include the signing of the city permit.Everyone knows what to expect and when they will get paid.

I have already been granted some money from the community preservation committee from the local municipality, however I want to see if there are any other funds I could apply for.Thank you Hi Rich,These old time restorations really make the building special.Can we see a pic of it now, as work happens on it and a finished pic (I'm sure you will have a lot of pride of ownership with this).Also if you need to do A/C you might want to hide them in plain sight up high on the building (if they let you), such as over an alley on a lot line building.Just beware of vibration (noise) translated into the building framing from the mounts.And remember in some old buildings if they are 2x4 construction on the exterior walls, those 2x4s may run from the basement all the way to the attic with no firestops.

There's typically minor work I didn't ask for the seller to fix (cosmetic, small fixes,  minor electrical like restoring non-working power to the garage for a property - no clue how the inspector missed that one, etc.).

I'd like to try to buy it and restore it, first as a rental, and eventually as my second home.The mother died several years ago without a will, and had 3 children.