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

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? 

Mentorship and joint ventures are excellent ways to gain experience, and it’s essential to start small, communicate clearly, and build trust.

Eventually, the supply of essentially free house and/or suckers runs out, or law enforcement catches on, or some combination of those factors.

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

Fridge filter is like a lightbulb it is a consumable that they can get or not get, makes the water better or I suppose the fridge smell less but it is not essential.   

By sourcing directly from trusted factory partners, Griffin Modern saved significantly on key elements like the Pivot door, floating staircase, glass handrail, and casement windows—items that normally cost 30% more when purchased at retail.

You collect market rent (You might be collecting less net rent without a PM, you’re essentially managing for free.)

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

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