I've been told by the insurance companies/brokers that a basic Homeowner's or even a commercial policy will not do.

Basically any brokerage will want to have you on.

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? 

VA and FHA loans are basically the only assumable ones in the market place.

Home warranties are basically like insurance for the house systems and appliances.

Nothing in our "era" has changed these basic rules:1.

Buying a single-family home can be a great starting point for new investors to learn the ropes and property management basics.

Basically scale in paper and challenge it with your personal time, resources, desires, finance, insurance, PM, etc.

Your basic BRRRR.

If you need financing it is basically considered a construction bail out but it doable.