They are also classic examples of differed maintenance.

It may be a classic case where the previous owner has squeezed all the juice from the lemon (i.e. not updated major components--like the HVAC, roof, basement waterproofing, etc) and is looking to pass on those costs to the buyer, perhaps without adequate price concessions... 

I love ballet, contemporary, classical Indian and anything else that sounds fun (salsa, hip hop, etc)!  

We'd probably all be curious to know in the end.But I also have to say that you didn't mention in your first post that it was a classic old beauty - I'm sad to hear of another one gone.Salvage potential? 

I am house-hacking right now and could not be happier with the results.If you are interested in the webinar, I also suggest you check out this article by @Scott Trench: http://www.biggerpockets.com/renewsblog/2015/02/21... for an interesting perspective, especially if you live in an expensive city where classic buy and hold properties that make you several hundred dollars in cash flow per month are harder to find.

You could invest the time and money and do up a repurpose plan and present it to builders and investors and see how it shops, but to decide its worth more based on the market of the new house instead of what sits there now because you think that's what someone is going to do (if the city lets them) seems iffy at best.  

Read all the classics....Rich Dad, Richest Man in Babylon, Think and Grow Rich, etc.

We were able to scale to 674 units in only 3 1/2 years with buying, refinancing and repurposing the money into another asset.the key is to buy "right", reposition to add tremendous value and then repeatGino

I'm always open to other opportunities as well but I like the charm of old buildings, classic cars, antiques and other old junk I guess hahaha.

Number and type do not matter as long as they are all properties you have held for productive investment use and are buying to hold for investment purposes.So your example would be a classic use of a 1031 exchange.