There’s no risk and all reward because if somebody can’t provide ID, they’re not going to be able to rent from me anyway.  

Its money well spent land development is high risk high reward.. depending on Jurisdiction. 

In todays environment some syndicators might be pushing out into more B- to C areas to find properties in overheated markets so the risk/reward ratio might not be as good as in the past.Not talking about Brian's deals just in generalities.  

You’ll need an expert like @Dave Foster in rewards to doing a 1031 for your business.

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? 

It's a MTRIt's definitely a little more headache than a typical LTR, but you're rewarded for the effort with much better cash flow.

E government won’t use its ne found power to invalidate contracts to reward a bigger group of voters at the expense of a smaller group?

I'll also check with the city on any potential liens, I think any inspection would have to be done after my $15k deposit so it would be a high risk, high potential reward type deal, and there is a 15+ bids already.

Risks and rewards to this type of tenant? 

As someone with a managing broker’s license, I know how rewarding it is to guide others through their real estate paths while continuing to grow your own investments.