But it should only be attorney cost, the deed and recording fees (few hundred) , maybe a final water cert.

By improvements I mean that there is power, water and sewer/septic installed and working.

It would be $1.1m, and according to AirDNA it would run -$40k/yr as an STR, and while local rent rates are high it would still run about -$2500k/m.It is such a cool and unique property I hate to let it go and would love to find a creative use for it that could at least carry itself (approx $6k/m+).

What type of MEP work are you putting into the design for getting the sewer, water, power, and internet (assuming you're not extending gas) to the inside of the building? 

Why pay rent when your landlord gives you free housing, free maintenance team, free mortgage, free electricity, free water, free trash?

@Mitch DavidsonVery cool!

Are there separate gas, electric and water meters for each apartment?

@Chris Berezansky sounds like a cool project, what is the ask here? 

Weather cools, people are busy with school, resting from summer, prepping for the holidays, etc.

No extra fees added for repairs, I'm allowed to contract my own people via the PM to do services(HVAC, lawn, water heater, etc.)