Alternatively, I could explore hard money lenders.

Are there any repair alternatives we should look into?  

Proximity to Major Northeastern CitiesBuffalo’s location near major urban centers like New York City and Boston makes it an attractive alternative for buyers seeking more affordable housing without sacrificing access to urban amenities.5.

all materials, all labor costs to others, Not you, utilities, interest payments, permits, licenses, auto/truck expenses, tools needed are all deductable. 

I also diversify into alternative real estate, like self-storage, to stay ahead of emerging trends.I’ve learned valuable lessons over the years, particularly the importance of clear communication and aligning expectations in partnerships.

Think of it as insurance against substandard work or faulty material.

Is it better than your alternative uses for your money?

Materials will be about the same, but labor may vary greatly on location.

Looking at the places, they are all the "weird" kind or have some kind of alternative building practice.

. $50k sounds like a lot to you but with the price of materials and of qualified labor, it does not go too far.