I think there are two maybe 3 ways to look at this in my mind.  1) you go into it and bring it all up to modern standards but using that old charm to basically take what is there bring it up to modern standards and rent it out essentially I'm thinking cocktail bar or something trendy like that.2) most banks are on really good centrally located real estate if this is true, then I'd consider it for the dirt, plan to scrape the lot and go vertical with whatever the highest and best use is.3) a kind of combo of the two, if the lot is in a good location and its doable, pull the vaults or other "character pieces" out of the building, scrape the lot, and build whatever is best suited for the site there, but incorporate those historical pieces into the final designs.Is the site near a major retail area? 

Hi Sanjay,First, in case you don't know, crowdfunding deals are essentially the same as old-school syndicates ... except they are allowed to market on the Internet.1) There are hundreds of new syndicate deals that come out every year.

Look for homes with updated systems—new plumbing, HVAC, roofing, and windows are essential for long-term value and tenant satisfaction.

Essentially that's what you described doing, but with the added complexity of the auction process.

If you rent out the downstairs for $1400, you will essentially pay $1,600 for the upstairs apartment.

In a situation like that, if the market is right and the research is right, you're earning essentially everything you would in just owning the property outright, other than the fact that you won't get the tax benefits (but your LLC will). 

Sure, any buyer can use this as a tool, but its more essential for those with limited cash.

•Do you have a safety net to weather potential slowdowns or unforeseen issues if you choose to BRRRR?

The definition of a good deal is essentially buying right for what you're trying to achieve.

It's essentially a business plan with a sample deal that portrayed the projected returns for my investors.Thanks, Mark!