There isnt much needed other than updating the interior.

The house probably needs a roof, a backyard fence, new flooring everywhere, and interior and exterior painting, so I don't have a lot for extras.

The whole interior needs to be repainted and that's the other big issue, the owner was a 3 or 4 pack a day smoker and it sure smells like he wasn't big on opening any windows when he smoked either!

For an interior room, perhaps you could find a nicer vinyl alternative?

It didn't take long and I learned that the entire house was cinder block, the exterior walls, interior wall even the floor.

Our current prices are ranging from $700k up to about $1.5 million.Style: all are contemporary on the interior.

I've stopped rehab work on it since the city won't give permits to finish the interior back to a 5-unit because of the zoning and the work is going to cost a lot more than anticipated so the property is sitting gutted and just a cash drain.

Is it in the interior, or is it bumped out from the exterior?

If the place has solid bones, mechanical s, and a decent interior  (even if needs updating later) I'd take the deal because it's a 3/2 which means your rental and resale buyer market is expanded, but again it all comes down to the 2 other variables. 

Firstly it is a half finished project, take note of the steps that need to be refinished, the un-historic interior.