FNMA should be forced to pay to restore the property to pristine raw land condition. 

Or is there a market for restored mid-century homes where you are?

I'm an absolute immigrant newbie from Kenya, who had the false notion that this market was rigged coz everyone used to tell me that the real estate agent would find me the best deal.Thanks to finding this community & providing such an abundance of knowledge; we have a chance now: my hope is restored.

Specifically, I love to see an older home restored to its original beauty.

Thanks Bill - those rehabs look great.I don't have age/model of the mobile homes on the parcel I'm looking at but I do know that 2 were gutted and restored recently, and the other 2 were not.  

Do you know of companies that have restored Historic Homes?

Thanks Terry, I was on the Board of Directors of Habitat here and we started the re-store.

Hey Craig,If I was in that situation, depending on your goals you could do a couple things, you could use it as a regular 20% down payment and purchase a 100k property a multiplex or SFH, or use with an FHA loan and purchase a multiplex, live in one of the units and rent out the rest, or you could use it with a hard money lender to finance a flip.  

I've noticed that here it's very common that whoever replaces the utilities ends up doing the restoration work and depending on the city ordinance they could end up re doing the entire street.

August of 2015 we purchased a property as an investment it required full rehab. 1500 sq ft 2/2 complete new baths and new kitchen all new hvac updated all electrical and restored original hard wood floors.