I'm brand new to the game and a potential buyer I had been in contact with told me that he likes investing in and flipping houses with "70% AVR or less minus restoration costs".

My qualifications are that I am a certified in Fire and Smoke Restoration (#148547) by the IICRC and have been in the biz for 14 years.

They may require a structural engineer report, you will need to complete any structural deficiencies obviously, complete the fire restoration/encapsulation procedure, etc... you GC should be able to cover all those bases for you.... just follow the instructions and keep it simple.

These need new roofs, facia boards replaces, windows replaced, who knows what the electrical would be, plumbing is questionable, the furnace/heaters are either missing or striped (no AC), the bathroom fixtures are in place though old, the hardwood floors, while solid, will need a lot of works to restore and the list goes on.

This revitalization has then extended into neighborhoods with a Mayor that by all accounts (time will tell), is dedicated to restoring these residential communities.

I am considering these as current expenses based on one definition from the above link which states: "an expense that simply restores a property to its original condition is usually a current expense."

I'm always building things for fun and consider myself a craftsman whether it's restoring a car, woodworking, etc. 

The logic of that is, if the funds are there to rebuild the house, the asset is restored and the lienholder is back in the same place as they were before the loss.  

In this case, buyers will be scarce as they run the risk of being compelled to restore the building to a SFR.In short, your friend will likely encounter a stiff headwind selling this property.

To know exactly where the least good areas are, and where the good ones are, where the working class and middle class like to live, we are looking for homes that need renovation, preparing them for rent and renting, in order to restore the city's look and for better quality homes , we believe at WIN WIN situation , together is better !